Nigeria says OPEC may reassess oil demand after Japan quake
Azerbaijan, Baku, March. 16 / Trend /
OPEC may reassess global demand for oil after an earthquake and tsunami in Japan, Bloomberg reported according to Nigerian foreign minister Odein Ajumogobia.
OPEC is set up to "stabilize the market," he said in New Delhi today. "OPEC is currently maintaining its ceiling. I think the current events in North Africa will probably inform the decision as to where those ceilings will be increased."
Nigeria, the sixth-largest OPEC producer, plans to raise crude production capacity to 4 million barrels a day from 2.5 million barrels, Ajumogobia said.
Nigeria is Africa's largest oil producer and the fifth- biggest source of U.S. crude imports. Royal Dutch Shell Plc (RDSA), Exxon Mobil Corp., Chevron Corp. (CVX), Total SA (FP) and Eni SpA (ENI) operate joint ventures with NNPC that pump most of the country's crude.