Nigeria recorded plus one in the month of October, as its rig count increased to 34 as against 33 recorded in September, data from the 14 – member Organisation of Petroleum Exporting Countries (OPEC), showed.

This is coming at a time OPEC as a whole recorded an increase of 10, having had 568 rig count, as against 558 recorded in September, while world rig count had an increase of 14, as it recorded 2,355 in October as against 2,341 recorded the previous month.

Leading the pack of gainers in the OPEC cartel is Saudi Arabia, which had plus six, having had 155 in October as against 149 recorded previously. On the heels of Saudi Arabia are the United Arab Emirate (UAE) and Venezuela, which had a tie at plus two.

Source: Vanguard

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