Nigeria Meets OPEC Quota for Fourth Straight Month, Output Rises by 0.4% in August
Nigeria's crude oil production has shown a marginal increase for the fourth consecutive month, meeting its Organisation of Petroleum Exporting Countries (OPEC) quota. In August, the country produced an average of 1.678 million barrels per day (mbpd), up 0.4% from July.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) credited the increase to the resolution of operational challenges associated with the Single Buoy Mooring (SBM) at the Erha field, which had affected production in the preceding month.
August's performance marked a modest improvement in Nigeria's oil production, which has been plagued by output volatility due to operational disruptions, crude theft, pipeline vandalism, and ageing infrastructure.
The commission emphasized the need for sustained interventions to remove bottlenecks and restore affected production capacity, highlighting the importance of addressing operational constraints promptly and maintaining asset reliability.