Nigeria recorded a further small gain with exports holding strong from key streams, although it is pumping much less than allowed under the Organisation of
Several members of OPEC, which includes OPEC and allies such as Russia, had in April pledged voluntary cuts on top of those made in late 2022 as the economic outlook worsened.
The OPEC’s output is still undershooting the targeted amount by almost 1 million bpd partly because Nigeria and Angola lack the capacity to pump as much as their agreed level. Saudi Arabia lowered its output by 40,000 bpd, according to the survey, the biggest decline among the nations required to limit output.
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