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The Organisation of Petroleum Exporting Countries (OPEC) oil output fell in January for a second month, a Reuters survey found, as a drop in exports from Nigeria and Iran offset a rebound from the United Arab Emirates where field maintenance had curbed output in December.

OPEC pumped 26.53 million barrels per day last month, down 50,000 bpd from December’s revised total, with Nigeria and Iran posting the largest drops, the report said.

The modest decline in output came as the wider OPEC+ group is keeping production cuts in place until the end of March due to global demand concerns and rising output outside the group. OPEC+ last Monday decided to stick with its plan to start raising output in April.

Nigerian production slipped by 60,000 bpd, the survey found, reflecting lower exports, although domestic usage is increasing as the Dangote refinery ramps up.

https://www.thisdaylive.com/index.php/2025/02/11/opec-oil-output-falls-in-january-on-nigeria-iran-production-dip/?amp