OPEC+ maintains output as Nigeria seeks higher production
By Udeme Akpan, Energy Editor The Organisation of the Petroleum Exporting Countries and its allies, OPEC+, has maintained October oil production levels for seven major producers, as Nigeria seeks to increase crude output and strengthen its revenues from the global oil market.
With crude oil still central to Nigeria’s fiscal and foreign exchange earnings, improving production will be crucial to converting opportunities in the global oil market into stronger national revenues and investment.
For Nigeria, the decision comes as the country seeks to raise crude production, increase foreign exchange earnings and strengthen government finances.
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