Nigeria: Opec cut
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Nigeria complying with Opec cut
Nigeria is fully implementing an Opec oil output decision starting from 1 January, a Nigerian official said, providing further evidence the group's decision are widely followed.
The person said the new quota, which stands at around 1.7 million barrels a day, should be fully effective by the end of February.
Opec decided 17 December to reduce its overall production by 2.2 million barrels a day as it tries to rein a steep drop in oil prices, said a Dow Jones Newswires note.