Nigeria Cuts Oil Production Output To 1.4 Million Barrels Per Day

Nigeria Cuts Oil Production Output To 1.4 Million Barrels Per Day

By Wires Editor | The Trent on July 14, 2020
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The Trent crude oil
FILE: A visitor passes ENOC-branded oil barrels stored at the Emirates National Oil Co. lubricants and grease manufacturing plant in Fujairah, United Arab Emirates, on Monday, March 12, 2012. | Gabriela Maj/Bloomberg

For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut its output from 1.7 million barrels per day, mb/d in May to 1.4mb/d in June 2020.

In its July Oil Market Report obtained by Vanguard on Tuesday, July 14, 2020, OPEC stated that the data was based on information obtained from official sources, adding that when unofficial sources are considered, Nigeria produced 1.5 mb/d during the period.

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