As the Organisation of Petroleum Exporting Countries (OPEC) firms up the international price of crude with the recent cut in production, Timipre Sylva, junior minister, Petroleum Resources Nigeria, has reiterated that Nigeria is complying with its own share of the cut
Slyva said, “Nigeria reduced its current production in May 2020 to 1.613 thousand barrels per day (kbd), the difference between its reference production of 1.829 and its May 2020 production is 216 kbd.
“This represents compliance of about 52 per cent .It is worthy to note that the current daily crude oil production is well below the period commitment level of 1.412mn (per day) and will translate to full compliance by end of June 2020.
“Nigeria will continue to fully comply with the agreement and look forward to improving on its compliance level for the lifespan of this historic intervention by OPEC.”
