The report went on to disclose that Nigeria, which produced 1.792 million barrels per day in January, went down to 1.685 million in February in compliance with the agreement by members of the Organisation of Petroleum Exporting Countries, OPEC to reduce supply and raise crude prices. Unfortunately, OPEC and Nigeria are caught in a no-win situation. Each time they reduce production to push crude prices up, they make it more profitable for American shale oil producers to increase their own supply and grab more of the global market share. Already, the Us has overtaken Nigeria as a supplier of crude to the United Kingdom. Our cutback will certainly open more of that market to the Yankees.
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