OPEC AND OIL PRICES

Price War Strategy Must Continue until Market Stabilizes, Says Nigerian Minister 

Nigeria's Oil Minister and current President of the OPEC Conference, Mr. Rilwanu Lukman, has dismissed calls for a sharp cutback in OPEC oil production and advocated the continuation of the Organization's current strategy which aims to secure a larger share of the market at the expense of non-OPEC exporters.

Speaking in an interview with the Kuwait daily al-Watan on 24 July,...