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Nigeria Needs New Export Markets as UAE's Exit Rattles OPEC

Nigeria should market its crude oil to new buyers as the UAE’s decision to leave OPEC is dislocating the balance that the cartel and the…

Source OilPrice AI Summary Updated May 19, 2026

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Freshness Stale Updated May 19, 2026

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Nigeria should market its crude oil to new buyers as the UAE’s decision to leave OPEC is dislocating the balance that the cartel and the OPEC+ group have been seeking for years, according to Wole Ogunsanya, chairman of the Petroleum Technology Association of Nigeria (PETAN). The official urged Nigeria’s state oil and gas firm NNPC and other producers of Nigerian crude to tap new markets. “When OPEC gives you a quota, it’s left for you to find who is going to buy it,” Nigerian outlet This Day quoted Ogunsanya as saying.…

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