Oil market could be left short as economies rebound, says Nigeria state oil company CEO

China’s eventual reopening and slow crude supply growth mean the global oil market will be in shortage, the head of Nigeria’s state petroleum company, who also serves on his country’s OPEC delegation, said Jan. 11. OPEC and its allies, including Russia, opted to slash production quotas by 2 million b/d from November through the end of 2023 in anticipation of…