Russia, Nigeria Reaffirm OPEC+ Partnership
(MENAFN) The collaboration between Russia and Nigeria under the OPEC+ alliance plays a crucial part in supporting the steadiness of the international oil market, according to Russian Deputy Prime Minister Alexander Novak.
His comments followed a discussion with Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Wale Edun.
“Our joint work within OPEC+ makes a decisive contribution to ensuring the stability and predictability of the global oil market,” Novak stated, as cited by the press service of the Russian government on Tuesday.
“The decisions taken are based on real market indicators and trends and are aimed at balancing the market in the face of economic challenges.”
Novak highlighted that the united efforts within both OPEC and OPEC+ correspond with the enduring national goals of participating nations and play a key role in reinforcing their financial systems.
During their dialogue, both countries examined potential avenues for integrated collaboration across the oil and gas sector—ranging from geological surveys to the development of oil fields.
Russia holds a leading position within the OPEC+ alliance and stands as the second-largest oil exporter globally, following Saudi Arabia. Nigeria, a significant oil producer and exporter, is a member of both OPEC and OPEC+.
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