Nigeria Meets OPEC Oil Quota for Fourth Consecutive Month

Nigeria has met its Organisation of the Petroleum Exporting Countries (OPEC) oil quota for the fourth consecutive month, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The country's crude oil production rose slightly in August, reaching an average of 1,677,777 barrels per day, a 0.4% increase from July.

This represents Nigeria meeting its OPEC quota for crude oil alone, excluding condensate, and marks the fourth consecutive month it has done so.

The NUPRC attributed the increase in production to the resolution of operational issues involving the Single Buoy Mooring (SBM) facility at the Erhafield, which had affected output in the previous month.