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 bpd in July-December 2020, and 1.579 million bpd between January 2021 and April 2022, as part of the OPEC+ agreement, Nigeria’s Ministry of Petroleum Resources said in a statement after OPEC+ sealed the deal on April 12. This is in addition to condensate production of 360,000 bpd to 460,000 bpd from which Nigeria is exempt from the […]