Nigeria Headline Context Ahead of OPEC+ Meet Delay

More context on Nigeria OPEC+ situation (a key nation holding up the meeting along with Angola while Reuters also now reports Congo):

• Nigeria’s 2024 target will reduce to 1.38mn bpd – from 1.74mn bpd previously but will rise to 1.58mn bpd if three independent consultancies can confirm its capacity to produce at this level.
• It has struggled to produce at its quotas in recent years because of oil theft and pipeline vandalism which it claims to now largely have under control.
• It currently claims production levels of 1.7mn bpd for crude/cond.
• It aims for 1.8mn bpd by the end of the year (crude/cond.)
• It aims for 2mn bpd by the end of Q1 2024 (crude/cond.)
• It then aims for 2.5mn bpd in the next couple of years (crude/cond.)
• Reminder of Nigeria’s NNPC’s unusual statement November 12 that it had restored 275,000 bpd oil production.
• "The unions have agreed to suspend ongoing industrial action leading to immediate restoration of 275,000 barrels of oil per day production," NNPC said.
• It had not previously been announced.
• Nigeria will also be looking to boost runs to supply its upcoming 650,000 bpd Dangote refinery when it comes online. NNPC is expected to supply the refinery with 6 crude cargoes in December for test runs but the refinery has been hit with numerous setbacks.
• Other recent Reuters headlines:
• NIGERIA OPEC GOVERNOR SAYS NOT AWARE OF DISAGREEMENTS WITHIN OPEC+, ONLY SEEKING ALIGNMENT
• NIGERIA OPEC GOVERNOR: COMFORTABLE WITH THE FINDINGS OF THREE INDEPENDENT SOURCES ON NIGERIA OUTPUT PLANS
• NIGERIA OPEC GOVERNOR: DISCUSSIONS ARE ONGOING WITH ALL INVOLVED PARTIES