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Oil prices “totally unaceptable,” Buhari tells Qatar’s ruler

LAGOS (Reuters) – The OPEC cartel needs to take action to stabilise the oil market because crude prices have fallen “totally unacceptable” levels, President Muhammadu Buhari said on Sunday.

President Muhammadu Buhari in a chat with the Emir of Qatar, Sheikh Tamim Bin Hammad Al-Thani at the Amiri Diwan (Emir’s Office) in Doha, Qatar.
President Muhammadu Buhari in a chat with the Emir of Qatar, Sheikh Tamim Bin Hammad Al-Thani at the Amiri Diwan (Emir’s Office) in Doha, Qatar.

“The current market situation in the oil industry is unsustainable and totally unacceptable,” Buhari told Qatar’s ruler during a meeting in Doha, his office said in a statement.

Buhari also highlighted the need for cooperation between OPEC and non-OPEC producers, reports Reuters.

“We must cooperate both within and outside our respective organisations to find a common ground to stabilise the market,” he said.

 

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