Natixis’ Abhishek Deshpande cited by BBC on Nigeria and Saudi talks

03cdc0e1a48d0085cf209f9e1439eb50_400x400As news broke last week of an agreement between Saudi Arabia and Russia to stick to January production levels, Nigeria’s President Muhammadu Buhari arrived in Saudi Arabia today for fresh talks of stabilizing the market. Quoted in the BBC‘s coverage on the news, Natixis’ Senior Oil Analyst Abhishek Deshpande says “I wouldn’t be surprised to see Nigeria support the freeze agreed to in Doha”.

The potential output freeze aims to stabilise a market in which prices have plunged to their lowest levels in nearly 13 years, a result largely blamed on over-supply and the OPEC refusal to cut production.

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