Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Just weeks to go to the much anticipated OPEC/N-OPEC meeting, where oil ministers from OPEC and participating N-OPEC countries would discuss the future of the agreement, Nigerian oil minister, Emmanuel Ibe Kachikwu has confirmed the Nigeria is ready to back the OPEC agreement for an extension until the end of 2018 if rights terms are put on the table. He says that duration remains an issue that needs to be discussed. The current agreement expires in March 2018 and some hardliners supporters of the agreement such as Russia and Saudi Arabia have called for an extension until March 2019, whereas others have been calling for another six months extension.
When the agreement was first reached in November 2015, Nigerian and Libya received exemptions from the agreement due to their lower than historic average resulting from militant attacks but as the output increased through 2017, OPEC confirmed that Nigeria has voluntarily joined the OPEC initiative with a production ceiling of 1.8 million barrels per day. However, in reality, Nigeria has not been very happy with the ceiling and wants into to be extended to 2 million barrels per day.
We at FxWirePro, expects Nigeria to join the cuts while Libya to get another exemption.
Oil price remains upbeat heading to the meeting. Brent is currently trading at $64 per barrel and WTI at $6.7 per barrel discount Brent.
