OPEC’s Largest ‘Overproducer’ Just Got Its Production Quota Raised

Nigeria may face an easier task to finally fall in line with its share of the OPEC+ production cuts after OPEC has recently raised the African producer’s oil output ceiling.   OPEC has raised the quota for Nigeria to 1.774 million bpd, three OPEC delegates familiar with the matter told Reuters. Until now, Nigeria’s cap as part of the deal was 1.685 million bpd. According to one of OPEC’s sources, the higher quota given to Nigeria is due to the fact that the cartel had not factored in the newly launched production from the…