According to the organization’s Monthly Oil Market Report for November, which looked at oil production results in October, Nigeria is now ranked seventh among countries that export crude oil.
Nigeria’s production in October was a paltry 1. 014 million barrels per day, placing it sixth overall after Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Angola, and Algeria.
In terms of crude oil output, Nigeria used to be ranked fifth, behind nations like Algeria and Angola.
The government lost N415 billion as a result of the closure of nine crude oil terminals in only two months.