Buhari seeks OPEC members, non-members’ support to stabilise crude oil prices

Crude-oil-decline28 February 2016, Abuja – President Muhammadu Buhari on Sunday in Doha, Qatar, said member-states of Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members must cooperate to find a common ground to stabilise crude oil prices.

A statement issued by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina said Buhari spoke on Sunday at a bilateral meeting with the Sheikh Tamim Bin Hammad Al-Thani, the Emir of the State of Qatar.

Buhari described the current market situation in the industry, which has seen oil prices plummet by 70 per cent since mid-2014, as “totally unacceptable.’’
The president who was on the second day of his state visit to Qatar said: “As members of OPEC and Gas Exporting Countries Forum (GECF), our relations in the areas of oil and gas, which our two nations heavily rely on, need to be enhanced and coordinated for the benefit of our people.

 

 

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