OPEC, non-OPEC nations may ask Libya, Nigeria to join output cuts

Vladimir Soldatkin and Dmitry Zhdannikov July 23, 2017

ST. PETERSBURG (Reuters) -- Key OPEC and non-OPEC oil nations will discuss the situation involving producers Libya and Nigeria at a meeting on Monday, Russian Energy Minister Alexander Novak told reporters on Sunday.

Speculation has been swirling in oil markets that the meeting might ask Libya and Nigeria to join a production cutting deal from which they are currently exempt.

Six OPEC and non-OPEC ministers will meet on Monday in St. Petersburg to discuss the market outlook and compliance with output cuts.

Novak also said Russian output had fallen by around 300,000 bpd since October.

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