OPEC+ Boosts Oil Output, Nigeria Left Out Again

The OPEC+ group has increased production quotas for several major oil exporters, but Nigeria's limit remains unchanged. The decision was made to help balance global oil supplies. Key members like Saudi Arabia received higher output allowances. Nigeria has consistently failed to meet its previous, lower production targets due to operational problems and oil theft. This underperformance is the stated reason for the group's repeated decision to exclude it from quota increases. The move is a significant financial setback for Nigeria, which relies on oil revenue. It highlights the country's ongoing struggle to revive its vital energy sector.