Opec Raises Nigeria, Saudi Arabia Oil Quotas

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Engr. Funsho Kukpolokun, yesterday said that Nigeria and Saudi Arabia had been granted permission by the Organisation of Petroleum Exporting Countries (OPEC) to increase their crude oil production quotas to help fill current market supply shortfalls of 2.0 million barrels per day (bpd).

Kupolokun spoke at an NNPC-sponsored workshop for the boards of the group and its subsidiary in Abuja and said the OPEC took decision in order to fill the 50 percent drop in oil production capacity among some members of the organisation.

AllAfrica