Comments from Nigerian National Petroleum Corporation Mele Kyari :
- Extending cuts may not be necessary if all countries comply
- Nigeria is currently over-complying with agreement
Nigeria was asked to over-comply because they over-produced in April/May by a bit less than 100K bpd.
The news here is about an OPEC+ taper. It's a balancing act for them because if they slowly add to production it will keep out US shale.
