Nigeria, Feb. 15 -- Nigeria's crude oil production dropped in January, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown.

Oil production from the 12 members of the organisation averaged 26.34 mb/d in January 2024, lower by 350,000 barrels per day (tb/d), month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday.

The report also noted that crude oil output increased mainly in the UAE, Saudi Arabia and Venezuela, while production in Libya, Kuwait, Iraq and Algeria decreased.

Nigeria's crude oil production dropped to 1.149 million barrels per day in January, from 1.422 million bpd recorded in December 2023, an OPEC survey that cites secondary data sources said.

However, according to the oil ca...