Nigeria’s active oil rigs drop by 18% to 28

Nigeria has recorded a drop of 17.6 per cent in its  number of active oil rigs bringing it down to 28 in November, as global oil benchmark, Brent crude, fell to its lowest level this year.

Brent plunged below the $60 per barrel mark in November from a four-year high of $86.74 per barrel in early October.

According to reports from Baker Hughes Incorporated and the Organisation of Petroleum Exporting Countries on Friday,  Nigeria’s rig count stood at 34 in October.

The country and Kuwait recorded the biggest decline in the number of rigs among its peers in the OPEC in November.