September 11, 2024
Nigeria’s crude oil production increased from 1.307 million barrels per day in July to 1.352mbpd in August.
Channels Television reports that according to the Organisation of the Petroleum Exporting Countries (OPEC) in its September Monthly Oil Market Report, the average daily crude production rose marginally by 45,000 barrels per day.
Quoting information obtained through direct communication with the Nigerian government, OPEC’s report indicated that output for July was 1.30mbpd.
The development comes on the heels of dwindling crude oil production in recent times.
According to the report, in May, Nigeria’s daily oil production further dipped to 1.25 million barrels per day.
OPEC data showed that Nigeria lost 30,000bpd, with crude production dropping from 1.28mbpd in April to 1.25mbpd in May.
The organization stated that Nigeria’s oil production added 50,000 barrels daily in April after it fell in recent times.
The nation’s crude production fell from 1.32 million barrels per day in February to 1.23 million barrels per day in March.
Production dropped from 1.427mbpd in January to 1.322mbpd, according to direct sources.
