OPEC+

Nigeria's oil production declined to 1.627 million barrels per day in recent reporting, missing both budget projections and OPEC quotas, while Dangote Group signed a $400 million equipment deal with China's XCMG to double refinery capacity to 1.4 million bpd.

Brent crude traded at $67.78 per barrel on Monday, maintaining a $3 premium over Nigeria's 2026 budget benchmark as oil markets navigate diplomatic developments and OPEC+ supply dynamics.