Nigeria joined the ranks of oil exporters

The government of Nigeria due to the ongoing oil war between Russia and Saudi Arabia was going to increase production of raw materials by almost a third with 1,789 million barrels per day to 2.5 million.

This was stated by Minister of energy of the country Timipre Silva, RIA Novosti reported.

Нигерия вступила в ряды экспортеров нефти

Thus, the country joined the ranks of oil exporters, which increases the production after the collapse of the transaction in the format of OPEC+ and the abolition of all restrictions from 1 April.

According to Silva, the price war has a negative impact on all exporters of oil, therefore, Nigeria will try to partially compensate for the losses. He expressed hope that Moscow and Riyadh in the near future will still be able to negotiate.

Russia, according to experts, ready to increase production by about 300 thousand barrels per day. However, a major blow to the oil market that led to the fall in the price almost twice, was the desire of Saudi Arabia to increase supplies by three million barrels, and also offer customers a record for the decade discount.

Analyst “Ukrainian Institute for the future” Yuri Romanenko said that we should not rejoice in the fall of oil prices.