OPEC invites Libya for the September meeting on oil production cuts

Libyan output had also recovered to reach an average of 990,000 b/d in July, its highest level in three years, up 180,000 b/d in June, according to the latest S&P Global Platts OPEC survey. [Photo: AzerNews]
Libya and Nigeria, the two OPEC members exempt from the current oil production cut deal, have been invited to participate in the producer group’s latest ministerial committee meeting September 22.

The two countries have been asked to attend the meeting in Vienna to identify the latest developments in their oil sectors, Kuwait’s OPEC governor, Haitham al-Ghais told Al-Rai newspaper Sunday.

Nigeria’s oil production, including crude oil and condensates, is currently at around 2.2 million to 2.3 million b/d, including about 300,000 to 400,000 b/d of condensates, oil minister Emmanuel Kachikwu said Thursday.

Libyan output had also recovered to reach an average of 990,000 b/d in July, its highest level in three years, up 180,000 b/d in June, according to the latest S&P Global Platts OPEC survey.

OPEC will consult with them to identify their plans, Ghas said.

The production cut agreement, which began January 1, calls on OPEC’s 14 members along with 10 non-OPEC countries, led by Russia, to cut a combined 1.8 million b/d in output through March.

(Source: Platts)

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