Nigerian crude output fell to 1.37mn b/d in May, the lowest in 28 years and a drop of around 500,000 b/d since January, the IEA said in its latest monthly Oil Market Report (OMR). Supply fell by 250,000 b/d in May from April, to the lowest level since July 1988. Rebel group the Niger Delta Avengers (NDA), which is demanding a greater share of revenues for and investment in the delta, has orchestrated a wave of attacks on infrastructure in Nigeria’s main oil producing region since February, when it sabotaged the main Forcados export pipeline, shutting in 250,000 b/d.
展开▼
