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To: Les H who wrote (181731)	7/21/2002 1:07:15 PM
From: Les H	Read Replies (1) \| Respond to of 436258

Nigeria set to leave OPEC - report Nigeria could be on the brink of leaving OPEC, a move that would trigger a crisis in global oil markets, the Independent on Sunday reported, citing sources close to the cartel. Nigeria, OPEC's fifth-biggest producer, could threaten to resign as soon as OPEC's annual meeting in Osaka in September, the report said. The issue has arisen because of Nigeria's growing barrel production ambitions, the Independent on Sunday said, adding that such action would produce a level of internal discord not experienced for decades. Nigeria has an undisciplined history of over-production against quotas, and is pursuing policies that would raise national output still further, according to the Independent on Sunday. It said that Nigerian capacity expansion plans have set it on a collision course with OPEC, and leaving the cartel is emerging as a likely option.