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Nigeria’s nine-month oil export earnings fall by $1.24bn

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’Femi AsuThe total revenue generated by Nigeria from crude oil and gas exports from January to September 2020 tumbled by $1.24bn, compared to the same period in 2019.An analysis of data obt...

The total revenue generated by Nigeria from crude oil and gas exports from January to September 2020 tumbled by $1.24bn, compared to the same period in 2019.

The United States Energy Information Administration predicted that members of the Organisation of the Petroleum Exporting Countries would earn about $323bn in net oil export revenues in 2020. “The estimated 2019 revenues fell because of lower crude oil prices and lower crude oil production levels, which were the result of an increase in crude oil production disruptions and voluntary curtailments of crude oil output among OPEC members.

 

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