Nigeria Meets OPEC Quota for Fourth Straight Month

Nigeria has maintained its fourth consecutive month of compliance with its OPEC crude oil production quota. In August, the country produced 1.5 million barrels per day (bpd) of crude oil, excluding condensates, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This marks a 0.4% increase from July's production figure of 1.671 million bpd.

The commission attributed the improvement in production to the resolution of operational challenges affecting the Single Buoy Mooring (SBM) at the Erha field, which had impacted production and evacuation activities in the previous month. The restoration of normal evacuation and production operations at the field contributed to the modest increase recorded in August.

NUPRC stated that while the increase was modest, it reflects the industry's continued efforts to address operational bottlenecks and restore affected production capacity. Stakeholders remain focused on enhancing asset reliability, improving operational resilience, and advancing intervention programs to support sustained production growth in the coming months.