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Nigeria has no timeframe to join OPEC production cuts - oil minister

Reuters  |  ABUJA 

ABUJA (Reuters) - Nigeria has no set timeframe to join OPEC oil production cuts, its oil minister said on Wednesday."Hopefully in the next two to three months we can see how predictable the production return has been and then can say we feel stabilized and need to make the corresponding cuts," Emmanuel Ibe Kachikwu told reporters.Nigeria and Libya, whose output has been hit by political turmoil and attacks, are exempt from an OPEC deal aimed at cutting excess oil supplies.Nigeria's benchmark level to join the OPEC cuts is production of 1.8 million barrels per day, and the country's current ...

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First Published: Thu, July 13 2017. 00:09 IST