Nigeria is to ramp up crude oil production following the agreement reached by members and allies of the Organisation of Petroleum Exporting Countries to increase output.
OPEC and its allies had agreed on Sunday to adjust crude oil production upwards by 400,000 barrels per day.
It disclosed this in its Declaration of Cooperation resolutions reached at the 19th OPEC and Non-OPEC Ministerial Meeting held virtually.
On decisions agreed upon by participating countries, the organisation stated that they decided “to adjust upward their overall production by 0.4million barrel per day on a monthly basis starting August 2021 up until phasing out the 5.8mbd production adjustment.”
Commenting on what the decision meant for Nigeria, the Special Assistant on Media to the Minister of State for Petroleum Resources, Garba-Deen Muhammad, on Tuesday said Nigeria would increase its production.
Written by: EaglesFM