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In 2019, the volume of crude oil lost was 55.21 million barrels, a 14.89% decrease from the previous year’s 64.86 barrels. According to NEITI, the average price of crude oil per barrel was $65.61 then.
Total crude oil production in Nigeria dropped from 735.24 million barrels in 2019 to 646.79 million barrels in 2020.This amounts to a 12.03% drop in output in 2020.
