Nigerian Minister of Petroleum Dr Ibe Kachikwu (Image from Internet)
Abuja (IINA) – Nigerian Minister of Petroleum Dr Ibe Kachikwu expressed hope that the Organization of the Petroleum Exporting Countries (OPEC) will achieve consensus on crude oil production freeze, News Agency of Nigeria (NAN) reported.
He said that despite the stalemate on crude oil production freeze at oil producers meeting in Doha, Qatar, OPEC would chat a way forward.
He added that OPEC must work at achieving a workable consensus on the issue by bringing everybody on the negotiating table.
"It is a supply and demand issue and we need to consult and bring everybody into the circle," Kachikwu said, adding: “Thank God that a committee is now in place to try and work towards getting everybody on board."
The minister noted that once every member country of OPEC was brought on board, it would become easier to convince other major oil producers to sign-up to the freeze policy. The policy, he said, was designed to remedy lingering decline in the price of crude oil in the international market.
It is expected that the consensus issue being canvassed by Kachikwu will be pursued vigorously in the next OPEC Ministerial Meeting, slated for June in Vienna, Austria.
AB/IINA
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