Business News

Nigeria, Others Cause OPEC’s Crude Oil Output Shortfall in March

Nigeria OPEC

By Adedapo Adesanya Reduced crude oil exports by Nigeria were one of the major reasons why the Organization of the Petroleum Exporting Countries (OPEC) recorded a decline in the amount of crude produced in March 2024. A survey by Reuters on Monday showed that OPEC pumped less crude in March, reflecting lower exports from Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ alliance. OPEC pumped 26.42 million barrels per day last month, down 50,000 barrels per day from February, the survey, based on shipping data and information from industry