Monday, October 20, 2025
Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

OPEC Member Sees Group-Wide Freeze and $50 Oil on the Horizon

Nigeria’s oil minister sees OPEC production freeze as likely, says Saudis are pushing for it A wider production freeze inside of OPEC could be close at hand, Nigerian Oil Minister Emmanuel Ibe Kachikwu said during an interview with CNBC. Earlier this month, four OPEC producers and Russia agreed to maintain production at January levels, welcome news in a global market