Nigeria Backs Oil Freeze Accord While Giving Iran Way Out
- Iran, Iraq should be allowed to recover some lost market share
- Nigeria's Kachikwu to meet with Saudi oil minister on Monday
Oil Freeze: Locking In High Supplies, Low Prices
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Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their lost market share due to sanctions and war.
The biggest oil producer in Africa supports a production freeze, Nigerian Energy Minister Minister of Petroleum Emmanuel Kachikwu told reporters in Doha on Sunday. Its oil production will be 2.2 million barrels a day this month, unchanged from January, he said.