Bloomberg Releases Nigeria’s Crude Oil Export Data for August

Nigeria’s crude oil production for the month of August fell by as much as 90,000 barrels a day to a five-year low of 1.43 million a day, despite the Organization of Petroleum Exporting Countries lifting output by 290,000 barrels a day.

This was disclosed in a report by Bloomberg on Thursday, revealing crude oil export data for the month of August.

The report said the group was actually pumping about 10% below its overall quota as some members “notably Angola and Nigeria suffer from deteriorating production capacity and technical disruptions.”

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