Nigerian oil talks fail again

ABUJA - Reuters

Nigerian President Goodluck Jonathan and labor unions failed to reach a compromise over government-subsidized fuel prices, but the unions said oil workers would not shut down crude output while the two sides kept talking.

Workers in Nigeria’s 2 million barrel-per-day oil industry - it accounts for 8 percent of U.S. oil imports and is also a key source for Europe and Asia - had threatened to halt production by yesterday following a strike of five days last week.