Nigerian oil exports to slip in February
Nigeria will export
around 2.06 million barrels per day (bpd) of crude oil in February,
down from about 2.13 million bpd scheduled in January, trade sources
said on Tuesday.
Africa’s largest
oil exporter will ship 64 full or part cargoes in February, loading
programmes showed, compared with 72 in January. The biggest stream will
be Qua Iboe, which will load 12 cargoes, one less than in January.
Nigeria’s total daily exports in February will be the lowest since June 2010, according to Reuters data.
Even so, supply is
expected to remain far above the production target Nigeria set through
its membership of the Organization of the Petroleum Exporting
Countries. Nigeria’s OPEC output limit is 1.67 million bpd.
Leave a Reply