MON, APRIL 06 2020-theG&BJournal- The Minister of State for Petroleum Resources Timipre Marlin Sylva said Monday that the Nigerian Government will take a position that is in the best interest of ‘’our short term and long term economic forecast,’’ following consultations with global industry stakeholders in the lead up to the OPEC+ meeting scheduled for Thursday, April 9 2020.
‘’As always, the driving force of our OPEC policy is first the stability of our national economy as well as the stability of the global economy which is heavily dependent on OPEC and its strategic partners, the OPEC+,’’ the Minister said.
He noted that Nigeria, like the rest of the world, has been hit by the global pandemic, COVID-19, and is prepared to join the rest of the world in making the necessary sacrifices needed to prevent what is likely to be a major global economic meltdown.
Brent Crude traded down -1.49 percent to $32.62 today despite hints that the big warring parties, Russia and Saudi Arabia, could find a common ground on their price and production cut dispute during the coming meeting.
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