VOL. XXXI

NO.44

8-AUGUST-1988

OPEC

Lukman Says Nigeria Selling below Official Prices

Nigerian Oil Minister and OPEC Conference President Rilwanu Lukman hasacknowledged that as a result of the world oil glut Nigeria is selling its oilbelow the official OPEC price Mr. Lukman told a questioner in Lagos on 30 Julythat Nigerian crude was being sold at $1516/B (as compared to the official pricefor Bonny Light of $18.921B) and blamed the current state of the market on thegulf war and overproduction by a...