Posted by UPI on
Nigerian oil officials claim the country's reduced oil output dictated by the Organization of Petroleum Exporting Countries was based on faulty data.
LAGOS, Nigeria, Oct. 31 (UPI) -- Nigerian oil officials claim the country's reduced oil output dictated by the Organization of Petroleum Exporting Countries was based on faulty data.
The Nigerian National Petroleum Corp. has already scheduled shipping reductions as it aims to comply with the OPEC mandate to trim production by 113,000 barrels a day -- about 5 percent of its output. But, senior staff at the Energy Ministry questioned OPEC on the mandate, The Guardian reported Friday.
Oil Ministry officials said OPEC used outdated information from sources outside the NNPC.
OPEC members agreed to a total production cut of 1.5 million barrels per day on Oct. 24.
Before the cut, however, OPEC production had exceeded their previous quota by 300,000 barrels a day, the Guardian reported.