Kachikwu sees crude rising just above $50 if deal is reached Producers due to meet on Nov. 30 to allocate output quotas As OPEC prepares for talks on eliminating a global crude glut, Nigeria’s oil minister says he’s more concerned about the potential for U.S. shale suppliers to replace the lost barrels by ramping up their own output, quelling any price rally the producer club might achieve. “The challenge is less with OPEC and more with the outer forces we don’t control,” Emmanuel Ibe Kachikwu, the country’s minister of state for petroleum, said Thursday in an interview in Tokyo. “The U.S. is beginning to ramp up volumes again.” Nigeria is among nations at the sharp end of the global crude surplus. Prices are below its fiscal break even and surging U.S. shale production restricted its biggest export market to a fraction of what […]