Index to Nigerian Newspapers

The Organization of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR) showed that Nigeria's production in December was lower than expected, with the country's rig count dropping further to six from seven. Despite a projected 1.86 million barrels daily oil production in the 2021 budget, Nigeria recorded a deficit of almost 200 million barrels in the first 11 months of 2021 due to production challenges. OPEC has left unchanged its world oil demand growth projections for 2022, signalling the potential impact of the Covid-19 Omicron variant and uncertainty over global inflation levels, supply bottlenecks, trade disputes and appetite for transport fuels. It also kept its non-OPEC liquids output growth forecast unchanged at 3.02mn b/d.