Related Articles
Forward article link
Share PDF with colleagues

How much can Nigeria add?

The country has a chance to lift output - but that doesn't mean it will

Nigeria was given a pass when Opec agreed to new group-wide cuts in November-unrest in the Delta throughout 2016 had already lopped off much of its supply. Now it needs to make the most of its exemption, by restoring lost production. It won't be easy. President Muhammadu Buhari thinks Nigerian output can reach 2.2m barrels a day in 2017-0.7m b/d more than production in December, but just 100,000 b/d more than the government says it was producing before the Niger Delta troubles resurfaced early in 2016. If it pulled off that kind of output recovery, Nigerian production growth on its own would replace more than half of the barrels the rest of Opec has pledged to remove. None of the core Opec

Also in this section
Opec and IEA bristle at Trump’s trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring
China bets on a yuan-oil bonanza
13 March 2018
The country's long-delayed crude oil futures contract promises much, but doubts persist