By Ifeanyi Nwoko
The cuts helped to push oil back above to 50 dollars per barrel this year, giving a fiscal boost to producers, many of which rely heavily on energy revenues.
However, the success of the cut is threatened by shale oil producers, who continue to operate unchecked, therefore flooding the market and driving down oil prices.
Meanwhile, Nigerian Petroleum Minister days the country is ready to accept OPEC production ceiling. However, the organisation has let the country out in its extended production cut.