Nigerian President Muhammadu Buhari said he will meet leaders from the Niger Delta next week in an attempt to end an insurgency in the oil producing region.
Oil firms in Nigeria have sacked an estimated 3,000 workers, according to union officials in the country.
A Nigerian militant group which claimed responsibility for a series of attacks on oil and gas facilities has said it has halted hostilities.
Following months of oversupply, the oil market has now found an unlikely “friend” in the form of militant activity. Last month saw unplanned outages reaching a record high as attacks from Niger Delta Avengers hit major global oil suppliers and Canada saw an estimated 1.2 million barrels a day knocked offline due to forest fires in Alberta.
A group of former Nigerian militants has called on the Niger Delta Avengers to join in discussions with the country's government.
Shell's Nigerian country chair said recent attacks by terrorists in the country had contributed to a "significant decline" in production levels.