Nigeria Meets OPEC Quota as Crude Oil Production Increases Modestly

Nigeria's crude oil and condensate production increased by 0.4% in August, reaching an average of 1.678 million barrels per day (mbpd), according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

This modest increase allowed Nigeria to meet its Organisation of the Petroleum Exporting Countries (OPEC) quota for the fourth consecutive month.

The highest-producing terminals in August were Bonny Terminal, with an average output of 320.04 thousand barrels per day (kbpd), followed by Forcados Terminal with 317.40 kbpd.

The NUPRC attributed the increase to the resolution of operational challenges affecting the Single Buoy Mooring (SBM) at the Erha field, which had negatively impacted output in the previous month.