OPEC Considers Production Caps for Libya, Nigeria

10 Jul 2017   OPEC

OPEC is considering putting a limit on how much oil members Nigeria and Libya can pump, cartel delegates say, as surging production from those countries is complicating the cartel’s plans to influence crude prices. Libya’s crude-oil output has surged to over 1 million barrels a day, up from 400,000 in October, while Nigeria’s output has reached 1.6 million barrels a day, up 200,000 barrels a day since October, according to JBC, a…

Comments are closed.