Global Energy Advisory 28th July 2017

Nigeria, exempt from OPEC’s oil output cut deal, has agreed to
stop ramping up its production once it hits 1.8 million barrels per
day. A milestone that is nearing, with output hitting 1.733 million
bpd in June, according to secondary sources. Secondary-source data
is considered closer to reality than self-reported output from OPEC
members. For June, for example, the head of the NNPC said that
Nigeria was producing 2.2 million barrels per day. Just days after
the cap announcement helped lift international oil prices, a
militant attack took…

Nigeria, exempt from OPEC’s oil output cut deal, has agreed to
stop ramping up its production once it hits 1.8 million barrels per
day. A milestone that is nearing, with output hitting 1.733 million
bpd in June, according to secondary sources. Secondary-source data
is considered closer to reality than self-reported output from OPEC
members. For June, for example, the head of the NNPC said that
Nigeria was producing 2.2 million barrels per day. Just days after
the cap announcement helped lift international oil prices, a
militant attack took…