Buhari, Saudi king hold phone talks over oil markets situation

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Saudi Arabia’s King Salman bin Abdulaziz and Nigerian President Muhammadu Buhari discussed efforts taken to stabilise and rebalance global oil markets in a phone call, Saudi state news agency, SPA, reported on Wednesday  and quoted by Reuters.

The two leaders “stressed the importance of compliance, by all participants, to the OPEC+ agreement and the agreed upon compensation mechanism,” SPA reported.

A ministerial panel of key OPEC+ oil producers, headed by Saudi Arabia, is holding a virtual meeting later on Wednesday to review the oil market and the group’s compliance with the current oil supply cut pact.

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Source: Nigerian Tribune