Nigerian Minister of State for Energy Affairs Henry Odin Ajumogoboa underlined the importance of the Third OPEC Summit in the Kingdom of Saudi Arabia in an important time and in a state that has a prominent status in OPEC as the largest oil producer in the world and one of the three countries that founded the OPEC. In a press statement, he commended the kingdom's support for the OPEC and said it is a committed member adding, "We are proud that all members of the OPEC support holding the summit in this great country." He said that OPEC is currently concentrating on the issue of increased production capacity as a means to guarantee sufficiency of supply and stability of prices in the market while at the medium run it seeks to deal with the issues of supply and demand and the environment that affects both the oil producing and consuming countries.
