Nigeria, Venezuela and Iraq raised crude oil exports in December from a month earlier while other Organisation of Petroleum Exporting Countries (OPEC) members including Saudi Arabia decreased shipments, according to the Joint Organisation Data Initiative.
Nigeria, according Reuters news, increased its exports by eight per cent to 2.27 million barrels a day, benefiting from higher crude oil prices. Venezuela boosted exports by 18.7 per cent to 1.71 million barrels a day while Iraq increased exports by 0.5 per cent to 2.15 million barrels a day, data the government submitted to the initiative and posted yesterday on its website showed.
Saudi Arabia, the largest producer and exporter in the OPEC, reduced exports to 7.36 million barrels a day from 7.8 million barrels in November, according to JODI figures, which include condensates and exclude natural-gas liquids.
Angola cut exports by 1.7 per cent to 1.6 million barrels a day in December, while Ecuador’s exports fell 5.7 per cent to 299,000 barrels a day. Qatar kept its exports unchanged at 590,000 for the second month in a row, the data showed. Algeria exported 693,000 barrels of oil during December, according to the data.
Iran, OPEC’s second-largest producer, Kuwait, the United Arab Emirates, and Libya didn’t submit data for the month.
OPEC decided on December 14 to increase its production ceiling to 30 million barrels a day, the first changOil reliance fuels Nigeria’s poverty, say analysts.(the nation)
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