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Nigeria records lowest drop in crude oil output

Xinhua, September 13, 2016 Adjust font size:

Nigeria has recorded its lowest drop ever in crude oil production, losing its status as Africa's top oil producer to Angola, latest data by the Organization of Petroleum Exporting Countries (OPEC) have shown.

According to the monthly oil market report for September released on Monday, OPEC said "Nigeria and Libya showed the largest drop in crude oil output".

Compared to Angola's 1.782 million barrels per day (bpd), Nigeria's crude oil production dropped to 1.677 millions bpd in March.

The report also showed that, based on direct communication, crude oil production by Nigeria dropped the most in August to 1.468 million bpd from 1.52 million bpd in the previous month.

The 14-member oil cartel report indicated that Angola saw its oil output rise to 1.775 million bpd in August from 1.767 million bpd the previous month, also based on direct communication.

In July, Nigeria had recorded the biggest increase in output, but it was not enough to help the country regain the top spot from Angola, the OPEC report also indicated. Endit