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Tuesday, 23 February 2016

Nigeria president in Saudi Arabia for oil talks

A picture provided by the Saudi Press Agency (SPA) on February 23, 2016, shows Saudi Governer of Riyadh province Prince Faisal bin Bandar bin Abdulaziz (R) meeting with Nigerian President Muhammadu Buhari in Riyadh
Mr Buhari (L) was welcomed by the Governer of Riyadh Prince Faisal bin Bandar bin Abdulaziz

Nigeria's President Muhammadu Buhari is in Saudi Arabia for talks with officials likely to be dominated by efforts to stabilise the global oil market.
Oil prices have plunged to their lowest levels in nearly 13 years largely. This is largely blamed on over supply and the Opec refusal to cut production.
The leader of Africa's largest oil producer is to meet King Salman in Riyadh before travelling on to Qatar.
His visit follows last week's agreement between Saudi Arabia and Russia in Doha to stick to January production levels if others followed.
"I wouldn't be surprised to see them [Nigeria] voice their support to the freeze agreed in Doha," Abhishek Deshpande, a leading oil market analyst at Natixis in London, told AFP news agency.
Poorer Opec members, including Nigeria and Angola, have been hard-hit by the price drop.

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