President Muhammadu Buhari is in Saudi Arabia for
talks with officials likely to be dominated by efforts to stabilize the global
oil market.
Oil prices have plunged to
their lowest levels in nearly 13 years largely. This is largely blamed on
over supply and the Opec refusal to cut production.
The president is to meet King
Salman in Riyadh before travelling on to Qatar.
His visit follows last week's
agreement between Saudi Arabia and Russia in Doha to stick to January
production levels if others followed.
By the way , in a statement
released by AFP news agency, a leading oil market analyst at Natixis in London,
Abhishek Deshpande said “ I wouldn't be surprised to see them [Nigeria] voice
their support to the freeze agreed in Doha."
Meanwhile, Poorer
Opec members, including Nigeria and Angola, have been hard-hit by the
price drop.
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