Commodities
OPEC Output Edges Higher as Nigeria Cracks Down on Oil Theft
- Nigerian production rises to 8-month high of 1.35 million b/d
- Saudi Arabia and others continue to implement OPEC+ curbs
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OPEC’s crude output edged higher last month as Nigeria partially reversed a long-term slump by cracking down on oil theft.
The Organization of Petroleum Exporting Countries boosted supplies by 150,000 barrels a day, with the West African nation effectively providing the entire gain, according to a Bloomberg survey. Total group output was 29.14 million barrels a day.