Oil hovered around $46 per barrel in New York, back to levels last seen before the OPEC deal to cut production.

Nigeria has lost over 130m barrels of crude oil from January to November this year to the activities of 32 militant groups in the Niger Delta region.

The Nigerian Petroleum Minister, Ibe Kachikwu, said that the country’s losses in oil production due to militant attacks have hit 900,000 b/d. The African nation continues to lose about $274m as the US and India cut their imports from Nigeria by 53% and 43% respectively.