OPEC oil production drops in January as Nigerian and Libyan supply falls
OPEC oil production decreased in January due to supply drops in Nigeria and Libya. This decline offset output gains in Venezuela following recent political shifts.
Insights:
The Organization of the Petroleum Exporting Countries (OPEC) reported that its oil output fell in January to 28.34 million barrels per day, representing a decline of 60,000 barrels per day from December levels. This decrease was primarily driven by lower supply from Nigeria 
NG and Libya 
LY, as indicated by data from the London Stock Exchange Group plc and Kpler. The shift in production comes as OPEC+ maintains a first-quarter pause in planned monthly output increases, a decision that alters supply flows and limits the group's capacity to offset unexpected reductions from individual members.
NG and Libya LY, as indicated by data from the London Stock Exchange Group plc and Kpler. The shift in production comes as OPEC+ maintains a first-quarter pause in planned monthly output increases, a decision that alters supply flows and limits the group's capacity to offset unexpected reductions from individual members.
