Russia, Saudi Arabia push for big hike in oil output despite opposition

PUBLISHED: Wed, 20 Jun 2018 07:57:54 GMT

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Ahead of OPEC’s meeting on Friday, Saudi Arabia and Russia are pushing the oil cartel to raise oil output steeply from July to meet the growing demand and cover the supply outages from Venezuela and Libya. Nosike Nwajide, Analyst at Financial Derivatives joins CNBC Africa for an outlook for oil and its likely impact on the Nigerian economy.