Russian Energy Minister Alexander Novak said at an industry conference in Istanbul that Libyan and Nigerian officials may attend a joint meeting between OPEC and non-OPEC nations later this month as oil producers look for ways to cap rising production to help support oil prices, Reuters reports.
Both countries have boosted production since they were exempted from an OPEC-led deal to cut output, weighing on global prices. This has prompted more talk among producers about including them in the pact. A meeting between OPEC and non-OPEC members is to hold on July 24 in St Petersburg, Russia, to discuss the current situation in the oil market.
Nigeria’s oil minister, Emmanuel Ibe Kachikwu, was invited to the meeting but is unable to attend due to another commitment, Kuwaiti Oil Minister Essam al-Marzouq told reporters at the same Istanbul event.
Instead, the group will probably ask a technical committee involving the six OPEC and non-OPEC members, which is due to convene before the ministers hold their talks, to meet Nigerian and Libyan representatives to discuss their production plans, he said.