Recent disruptions in operations of oil companies in Nigeria’s Niger Delta region has resulted in about forty percent cut in crude oil production.

Recent disruptions in operations of oil companies in Nigeria’s Niger Delta region has resulted in about forty percent cut in crude oil production.The announcement by the Federal Government has contributed to force a rebound in the prices of oil on the international market.
Reuters news agency is reporting that a barrel of oil traded at around forty-nine dollars, which represents a six-month high.
Other driving factors also include supply outages in Canada due to sudden movement of a wildfire, which led to the evacuation of workers from camps outside the oil hub of Fort McMurray.