Organisation of Petroleum Exporting Countries (OPEC) members and prices would remain stable.

Alison-Madueke also expressed optimism that oil supply from Nigeria would increase as her security improved.

Reuters reported that she told journalists last Sunday, on the sidelines of the Gas Exporting Countries Forum (GECF) event in Qatar that Nigeria was currently producing 2.4 million barrels per day of oil.

She declined to make predictions about outcome of the upcoming OPEC meeting in December.

Quoting Dow Jones, THISDAY had reported that Nigeria’s crude oil exports were expected to increase to 2.18 million barrels per day (mbpd) in December.

According to Dow Jones, 2.18 mbpd of crude are scheduled to load in December in 72 cargoes, up from the 2.05mbpd of 68 cargoes in November.

Trade sources hinted that 17 crude oil production streams in Nigeria are due to be shipped in December, with cargo sizes ranging between 250,000 barrels and 1,000 barrels.

However, an earlier report by Bloomberg showed that Nigeria will raise December exports of Bonny Light crude to seven cargoes from six consignments in November. The December plan, according to the report, comprises seven shipments of 950,000 barrels and one partial parcel of 200,000 barrels, for a total of 6.85 million barrels.

Further details showed that the country would also export 12 consignments of benchmark Qua Iboe oil and four of Escravos and seven full cargoes of Agbami crude.

Crude export for September and October had been delayed by 17 days following the declaration of a force majeure by Shell Petroleum Development Company (SPDC) on its Bonny Light crude exports on August 23 after several pipeline attacks.

Force majeure is a legal clause that allows a company to miss scheduled deliveries because of circumstances beyond its control.

Three shipments had been deferred to October from September, and two to November from October, a loading programme published by Bloomberg showed. One extra shipment was added to the October plan, while two were dropped.