With a daily underperformance figure of 78,000 barrels per day in December, Nigeria lost as much as 2.418 million barrels of crude in the last month of 2021, data released by the Organisation of Petroleum Exporting Countries (OPEC) showed yesterday. However, Brent oil, Nigeria’s benchmark, rose further yesterday to close at $88 a barrel, having earlier hit $88.13, the highest since October 2014. The month of December, according to the OPEC report, also saw Nigeria slump lower than other previous production performances, compared to for instance, October, in which 1.228 barrels were pumped per day, and November during which 1.275 million barrels were produced per day. Given the average price of about $85 per barrel for the month, the inability to pump more oil may have cost the country approximately $205.5 million in the entire month. The data, according to OPEC, which uses both primary and secondary sources to […]