Nigerian OilMin: Ready to support OPEC cuts when oil output reaches 1.8 million bpd

Nigerian Oil Minister Emmanuel Kachikwu said earlier this week, Nigeria is ready to cut production levels in accordance with OPEC deal, only when it reaches a stable 1.8 million bpd output level, Oilprice.com reported.

Key Quotes via Bloomberg:

“As a serious member of OPEC, we stand ready to support the cuts when we are sure that we can have a stable predictable production.”

“We still are below the 1.8 million barrel a day benchmark set for us by OPEC. I think that over the next one or two months, hopefully, we can get to that point where we can say the recovery has been tested, it is systemic and predictable.”