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Nigeria's August oil exports to top 17-month high

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Staff Writer | June 24, 2017
Nigeria oil August
Oil exploration   Resurgent production

Nigeria's crude oil exports are set to exceed 2 million barrels per day (bpd) in August.

This is the highest level planned for 17 months, as the nation's oil industry nears a full recovery from militant attacks that crippled production in 2016.

Resurgent production, if sustained, will put further pressure on efforts by the Organization of the Petroleum Exporting Countries to trim output in support of oil prices.

Exports of 2.02 million bpd on 67 cargoes are scheduled so far in August, according to preliminary loading plans compiled by Reuters, with an additional 97,000 bpd of Akpo condensate.


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