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For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut its output from 1.7 million barrels per day, mb/d in May to 1.4mb/d in June 2020.
In its July Oil Market Report obtained by Vanguard, OPEC stated that the data was based on information obtained from official sources, adding that when unofficial sources are considered, Nigeria produced 1.5 mb/d during the period.
