Just In: Oil Prices “Totally Unaceptable”, Buhari Tells Qatar’s Ruler

The OPEC cartel needs to take action to stabilise the oil market because crude prices have fallen “totally unacceptable” levels, Nigeria’s President Muhammadu Buhari said on Sunday.

“The current market situation in the oil industry is unsustainable and totally unacceptable,” Buhari told Qatar’s ruler during a meeting in Doha, his office said in a statement.

Buhari also highlighted the need for cooperation between OPEC and non-OPEC producers.

“We must cooperate both within and outside our respective organisations to find a common ground to stabilise the market,” he said.