In its latest monthly oil market report, the Organisation of Petroleum Exporting Countries (OPEC) says Nigeria’s oil output dropped from its January output of 1.96 million bpd to 1.896 bpd in February 2015.
The reports, based on secondary sources in its latest monthly oil market report released Tuesday, said Year-on-year comparison to February 2014 output of 1.928 million bpd showed a drop of 32,000 bpd.
Nigeria produced more crude in January despite the many cases of disruptions on the Nembe Creek pipeline and the Trans Forcados oil pipeline which shut out about 410,000 barrels of Nigerian crude per day for close to two weeks.
Despite the drop, Nigeria maintained its position as Africa’s number one oil producer in February followed by Angola and Algeria with an output of 1.75 million bpd and 1.11 million bpd respectively.
Total OPEC crude oil production averaged 30.02 million bpd in February, a decrease of 0.14 million bpd from the previous month.
“Crude oil output de-creased mostly from Iraq, Nigeria and Libya, while production showed increases in Saudi Arabia and Kuwait. OPEC crude oil production, not including Iraq, stood at 26.70 million bpd in February, down by 0.06 million bpd from the previous month,” the report said.
