Opec moves to cap Nigerian oil output, boost compliance

July 24, 2017

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Opec moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. Opec has agreed with several non-Opec producers led by Russia to cut oil output by a combined 1.8-million barrels per day (bpd) from January 2017 until the end of March 2018.

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