Nigeria sees OPEC output steady, focus on compliance

OPEC oil producers are likely to keep their current oil production targets unchanged and focus on compliance with the group's decisions when they meet in Angola on December 22, a senior Nigerian official said on Monday.                                           

"I don't think there is going to be any change in level of production," Nigeria's special adviser to the president on energy matters, Emmanuel Egbogah, told reporters on the sidelines of a conference.                                           

Apart from Nigeria, most Arab oil ministers also see no change in OPEC output as they are comfortable with current crude prices.                                           

Oil prices rebounded toward $76 a barrel on Monday, after shedding nearly $1 in the previous session, as positive US jobs data buoyed hopes that energy demand in the world's largest fuel consumer would soon improve.                                           

"Oil prices have been alright. I think we have a position that oil prices probably are at a good level now," Egbogah said.