- Exxon Mobil (NYSE:XOM) has ramped up production of Nigeria's Qua Iboe crude oil after pipeline damage forced it to cut production last week, traders tell Reuters.
- XOM cut production, and declared force majeure on exports, after a drilling rig that was experiencing mechanical difficulties damaged the pipeline.
- Traders say XOM began increasing output of Nigeria's largest crude oil stream earlier this week, with flows by Tuesday reaching 213K bbl/day en route to a target of 250K bbl/day by today; the force majeure remains in place.