(Ecofin Agency) - Attacks by militants on oil installations reduced Nigeria’s production by 10%, last month, thereby causing a decline in the monthly production from the Organization of Petroleum Exporting Countries (OPEC), Bloomberg reports.

Nigeria’s output dropped by 160,000 bpd to 1.45 million while OPEC’s overall crude output dropped to 32.71 million bpd in May, from 32.83 million in April.

The country’s production has decreased to the lowest in about 30 years, contributing to the 80% rise in oil prices globally. Brent crude is currently trading at $52 a barrel, its peak since October 2015.

Last week, OPEC members at the meeting in Vienna failed to establish an output ceiling after they discarded 30 million bpd in December 2015.

Anita Fatunji