Nigeria Backs Saudi Call For Stable Oil Markets

Nigeria is in alignment with the call by HRH Prince Abdulaziz Bin Salman, Minister of Energy of the Kingdom of Saudi Arabia, to address the disconnect between paper and physical oil markets in order to ensure a true reflection of the existing fundamentals.

Stable oil market is for the benefit of all.
A stable oil market benefits all – consumers, producers and investors alike. It is also a catalyst for global economic growth. As such, any measure required to ensure the stability of the oil market, whenever it is necessary, will always be comprehensively supported by Nigeria.

The current extreme volatility observed in the oil market calls for caution, and Nigeria, a world Energy major, would work assiduously in ensuring a right and necessary path to stability.

H.E Timipre Sylva
Honourable Minister of State, Petroleum.