Nigeria Crude Output Hits Four-Month High

Nigeria's crude oil production continued its upward trend in August, reaching 1.68 million barrels per day (mbpd), marking the fourth consecutive month of improvement.

This increase represents a 0.4% rise from July's 1.67 million barrels per day and is attributed to the country's sustained compliance with its Organisation of the Petroleum Exporting Countries (OPEC) crude oil quota.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed that the modest improvement in August production was largely due to the resolution of operational challenges involving the Single Buoy Mooring at the Erha field, which had affected production performance in the previous month.