Lagos - Crude production from the Organization of Petroleum Exporting Countries dropped to a two-year low in November, led by declines in Nigeria and Saudi Arabia production outputs.
Nigeria’s production in November hit a 6-month low dropping to1.89 million barrels, 100 000 barrels short of October’s yield, reports Sweetcrude
A continuous slide might see Nigeria losing its place as Africa’s top oil producer, with Angola lurking inches behind.
Saudi Arabia crude output also recorded a shortfall of 150 000 barrels per day to 9.65 million bpd, a dip from September’s 10 million, its highest in a month since 1989. Its output in October was reduced by 200 000 barrels a day.
Read more at SweetCrude Reports