Nigeria ready to compensate for overproduction in May-June

Published 06/06/2020, 10:33
Updated 06/06/2020, 10:36

LONDON, June 6 (Reuters) - Nigeria said on Saturday it was
ready to make additional oil output cuts from July to September
to compensate for producing more than its quota in May and June,
when OPEC and its allies implemented a deal to curb supply by
record amounts.
"Nigeria reconfirms our commitment under the existing
agreement," Nigeria's Ministry of Petroleum Resources said in a
statement on Twitter ahead of talks between OPEC and its allies.
It said it also "subscribes to the concept of compensation
by countries who are unable to attain full conformity (100%) in
May and June to accommodate it in July, August and September."

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