Oil Majors May Be Forced To Cut Crude Output In Nigeria

Africa’s largest oil producer, OPEC member Nigeria, has yet to figure out how and from where to cut production as part of the OPEC+ deal, and this has led to a delay in the May and June crude oil export plans of Nigeria National Petroleum Corporation (NNPC), trading sources told Reuters on Monday.  The new OPEC+ production cut deal to remove a total of 9.7 million bpd from the market in May and June enters into force on May 1.   Nigeria will be producing 1.412 million bpd in May-June 2020, 1.495 million…