OPEC Hails Nigeria, Others over Commitment With Crude Oil Stability, Cohesion
The Organisation of Oil Exporting Countries,OPEC, has commended Nigeria and other member countries over their conformity with the crude oil production quota for November and December 2024.
Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, in his statement issued by his SA media communications, Nneamaka Okafor, said the evaluation, which carried out during the 58th Meeting of the OPEC Joint Ministerial Monitoring Committee (JMMC), showed that OPEC and non-OPEC countries under the Declaration of Cooperation (DoC) strictly adheres to the agreed production quotas.
The statement read “Nigeria remains steadfast in upholding its obligations under the DoC, recognizing the importance of collaboration in ensuring market balance and long-term sustainability”
Our commitment aligns with our broader objective of transforming the oil sector to maximize production while maintaining compliance with agreed frameworks.
As we continue on this path, we remain dedicated to optimizing our resources and enhancing efficiency within the sector as we contribute meaningfully to global energy stability while advancing national economic growth.
I participated in the 58th Meeting of the OPEC Joint Ministerial Monitoring Committee (JMMC), where we reviewed the crude oil production data for November and December 2024.
The committee noted the high overall conformity among OPEC and non-OPEC countries under the Declaration of Cooperation (DoC), reaffirming our collective commitment to stability and cohesion in the global oil market.
