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Nigeria agreed to freeze oil production

Нигерия согласилась заморозить добычу нефти

Nigeria supported the freezing of oil production at the level of January 2016, proposed by a number of OPEC countries and Russia. On Sunday, February 21, said Nigerian oil Minister Emmanuel IBE Cacique, according to Bloomberg.

According to him, Nigeria, which is the largest oil producer in Africa, agreed on the proposed limitation. At the same time, he added that Iraq and Iran, which have long been isolated due to sanctions and military action, it is necessary to provide favorable conditions of freezing, inflating them to the bar of production. The Minister added that by June the market conditions become tougher, Rambler News Service notes.

He noted that in January of 2016, Nigeria, on average, has produced 2.2 million barrels of oil per day.

The agreement on the conservation of oil on average in 2016 at the level of January was achieved on 16 February following the meeting in Doha between the Russian energy Minister Alexander Novak and representatives of Saudi Arabia, Venezuela and Qatar. Representatives of the countries called condition freezing the willingness of other countries will join this initiative.

As reported the Deputy head of the Ministry of energy of Russia Anatoly Yanovsky, the initiator was freezing Venezuela. In this case, according to Deputy Prime Minister Arkady Dvorkovich, as a result of the decision of oil production in Russia will increase, as the level of January 2016 more than the same indicators in 2015.

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