Libya, Nigeria Add to Opec's Dilemma

摘要

Signs of returning crude exports from Libya and Nigeria, coupled with ongoing output ramp-ups in other Opec states, are likely to further complicate attempts by major oilproducing countries to reach agreement on joint market action when they meet in Algeria in less than two weeks. Opec quartet Libya, Nigeria, Iraq and Iran have all said they plan to increase production in the coming months, potentially adding hundreds of thousands of barrels to an already oversupplied market just as producers prepare to consider freezing output when they gather on the sidelines of the International Energy Forum in Algiers on Sep. 26-28 (OD Sep.14'16).