Key Producers Boost Crude Oil Output in December

SEATTLE (Oil Monster): Major producing countries reported increased crude oil output during the month of December last year.

Nigeria recorded an output of 2.057 million barrels per day (bpd) including condensate during the month. This is significantly higher by nearly 7% when matched with the output of 1.93 million bpd during September. The press release by the Federal Ministry of Petroleum Resources noted that the country’s crude oil production has undergone severe fluctuation during the second half of 2017, mainly on account of pipeline related issues.

Meantime, Oman’s production including crude and condensate totaled 29.97 million barrels during the month, translating to an average daily production of 966,952 barrels. The monthly report published by the Ministry of Oil and Gas states that the country exported 24.6 million barrels of oil during the month. The crude exports to China in December 2017 fell sharply by 34%. The imports of Oman crude by Taiwan too dropped slightly. On the other hand, India recorded marginal increase in imports of Oman crude.

The monthly statistics published by the Colombia’s Ministry of Mines and Energy denotes that the country’s production increased marginally by nearly 2.3% over the prior month in December to touch 870.3 bpd on an average. Year-on-year, the Dec ’17 production has surged higher by nearly 4%. The Colombian crude production during the entire year 2017 averaged at 854,121 bpd.  The gas production by the country averaged at 927.1 million cubic feet per day in December last year. The production for the full year averaged at around 908.7 million cubic feet per day.