The organization of petroleum exporting countries OPEC has done a good job by convincing non opec members to see reasons why oil output should be reduced . Today major non opec oil producing giants like Russia have joined the group that have agreed to reduce crude oil oversupply .
More members of the non opec group have joined the campaign to reduce global oil production . This agreement has led to the increase in oil prices by 4% in the market , which is virtually above $56 per barrel . Countries like Nigeria which are undergoing financial crisis should be smiling .
More members of the non opec group have joined the campaign to reduce global oil production . This agreement has led to the increase in oil prices by 4% in the market , which is virtually above $56 per barrel . Countries like Nigeria which are undergoing financial crisis should be smiling .
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