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Reuters is out with the latest comments by the Saudi Arabian and Nigerian Oil Ministers Al-Falih and Kachikwu following the conclusion of their meeting.

Saudi Arabia’s Al-Falih noted that Nigeria and Saudis met as countries prepare for OPEC Vienna meeting.

Additional Comments:

Oil volatility amplified by geopolitical tension.

Talks with Nigeria important ahead of the Vienna OPEC meeting next week.

Confident of reaching a resolution to stabilize the oil market and is confident that 2019 will be a year whereby oil market will be stable.

Cooperation is required by all OPEC members.

Meetings around this time will hopefully lead to a consensus amongst OPEC, OPEC+ to stabilize the market.

OPEC is an independent body, does not work under outside pressure.

Meanwhile, Nigerian Oil Minister Kachikwu said that Saudis and Nigeria held talks on energy collaboration.

Kachikwu seconded Al Falih’s view that OPEC+ will take necessary action to stabilize oil prices.