Saudi king, Nigeria’s president set to discuss oil prices

Nigerian President Muhammadu Buhari will meet with King Salman later this week to discuss measures aimed at stabilizing oil prices.

"Ongoing efforts by Nigeria and other members of the Organisation of Petroleum Exporting Countries to achieve greater stability in the price of crude oil exports are expected to be high on the agenda of discussions," a presidential spokesperson said in a statement.

He will later fly to Qatar later on to hold talks with officials on same issue and will also meet with business leaders in the kingdom and Qatar to discuss opportunities for investment in Nigeria, it added.

Nigeria, the world’s eighth largest exporter of crude oil, has seen its revenues and currency come under pressure amid a worsening oil slump. The country is the largest producer of sweet oil in OPEC.

Last week, Russia, Saudi Arabia, Qatar and Venezuela reached a deal to freeze oil output at January levels following talks in Doha. Iran later welcomed the measures, but did not commit to the agreement.