African Oil Producers to Readjust Fuel Production in Line with OPEC advisory

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The African Petroleum Producers Organization (APPO) has committed to readjusting daily crude oil production to 10 million barrels a day, with effect from May 1, 2020.

A new limit has been set by the Organization of the Petroleum Exporting Countries (OPEC+) nations to stagger crude oil production until the end of April 2022 in a bid to stabilise global oil markets.

OPEC+ has suggested adjusting production to 10 million barrels a day from May 1 till June 30 and further reducing it to 8 million barrels a day until the end of this year.