Nigeria has recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month.
The country exported less crude oil in December, according to ship-tracking data and loading schedules.
Much of this decline came from reduced shipments of Bonga crude, which traders said had been undergoing maintenance.
OPEC put Nigeria’s oil production at 1.79 million bpd in November, down from 1.80 million bpd in October.
The group’s oil output fell in December as Nigeria and Iraq adhered more closely to pledged reductions and Saudi Arabia made further cuts ahead of a new production-limiting accord.
Crude prices have rallied to above $70 a barrel in 2020 supported by ongoing OEC-led curbs and increased Middle East tensions after the killing of a top Iranian general. This has increased concern of conflict that could further cut supply.
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