The Organisation of Petroleum Exporting Countries has urged Nigeria to sustain its ongoing energy reforms in order to succeed in transforming the country.
Iranian Minister of Petroleum, Bijan Zangeneh, said that Iran wants a quota system of production to be reinstated in the Organization of Petroleum Exporting Countries (OPEC).
Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers on next meeting, a senior OPEC source said.
Oil output from producers outside the Organisation of Petroleum Exporting Countries (OPEC) is falling faster than expected, helping the market to rebalance.