Nigeria Now Seventh On OPEC Prodution List

Oil Prices Rise Over $58.17pb As OPEC, Non-OPEC Commit To Output Cut

The Monthly Oil Market Report of the Organisation of the Petroleum Exporting Countries (OPEC) shows that Nigeria now ranks seventh in the crude oil production list for October.

VANTAGE NEWS reports that the list examined oil production performance in October.

The list put Nigeria’s output to a mere 1.014 million barrels per day in October, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria.

Angola produced 1. 051mb/d; Algeria, 1.060mb/d; Kuwait 2.811mb/d; UAE, 3.188mb/d; Iraq, 4.651mb/d; Saudi Arabia, 10. 957mb/d, Venezuela, 711b/d, while Equatorial Guinea’s was 57b/d.

The likes of Gabon, Libya and Iran did not produce a barrel in the month.

Nigeria used to rank 5th ahead of other African countries including Angola and Algeria.


Comments expressed here do not reflect the opinions of Vantage News Nigeria or any employee thereof.

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