The Organisation of Petroleum Exporting Countries (OPEC) has described Nigeria as one of the most admired member countries in the global oil market.
Oil prices have hardly moved at the start of the week as a cautious market awaits stalling talks between the major oil-producing nations on future production policy.
Organisation of Petroleum Exporting Countries and non-OPEC ministerial meeting has reaffirmed its commitment to a stable global market.
Oil prices on Friday rose amid hopes that an ongoing economic recovery in the United States will positively impact oil demand.
“The meeting extends special thanks to Nigeria for achieving full conformity in January 2021.”
Brent oil was up $1.28, or two percent, to $63.98 a barrel by 1050 GMT.
“This was not an easy decision to make.
Resurgent COVID-19, food supply shocks, heightened insecurity, foreign exchange policies, and higher energy costs are factor to consider.
