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Crude oil exports
are set to top 2 million barrels per day (bpd) for the third month
running in September, trade sources said on Wednesday, as Nigeria
improves output reliability. Nigeria will export an average of 2.10
million bpd of crude oil in September, up slightly from a revised 2.08
million bpd in August, according to data from oil companies and
traders. Nigeria will again far exceed its crude production target
agreed with the Organization of the Petroleum Exporting Countries,
which has been set at 1.67 million bpd, trade sources said.

OPEC
agreed on output curbs in 2008 to support falling oil prices, which
dropped from a high of nearly $150 a barrel in July 2008 to below $33
in December the same year. With U.S. crude oil trading mostly between
$70 and $80 per barrel, OPEC members have said they are happy and that
there is little incentive to adhere to output targets.