BREAKING: Nigeria exceeds OPEC quota as crude oil production hits 1.56 million barrels per day
Nigeria’s crude oil production rose to an average of 1.56 million barrels per day (bpd) in June, exceeding the Organisation of the Petroleum Exporting Countries (OPEC) production quota of 1.5 million bpd.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the country achieved 104 percent of its OPEC quota during the month.
In a statement on Monday, the NUPRC said Nigeria’s combined crude oil and condensate production averaged 1,735,398 bpd in June.
The commission said crude oil accounted for 1.56 million bpd, while condensate production stood at about 180,000 bpd.
According to the regulator, the crude oil output is Nigeria’s highest monthly production level since April 2020, representing a 74-month high.
The NUPRC added that the country’s peak combined crude oil and condensate production reached 1.89 million bpd during the month, while the lowest daily output was 1.57 million bpd.
The commission attributed the improved performance to operational stability across producing assets and the absence of major pipeline outages.
The commission stated: “The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review. This enhanced operational stability supported improved production uptime and crude evacuation efficiency.”
