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Oil Price Hits $80/bbl As Nigeria’s Output Surges To 1.7m Barrels
Jan. 5, 2022
Source: Independent

Oil Price Hits $80/bbl As Nigeria’s Output Surges To 1.7m Barrels

LAGOS – Global benchmark Brent ear­lier on Tuesday surpassed $80, its highest since Novem­ber. This is as Nigeria’s crude oil output is expected to in­crease to 1.701 million barrels per day next month from the 1.649 million barrels per day it has recorded since last No­vember. The increase was sequel to Tuesday’s OPEC and non- OPEC ministerial meet­ing which reaffirmed a 400,000-barrel per day increase in the monthly overall crude oil produc­tion and export for mem­ber countries.

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