Nigeria Meets OPEC Quota for Third Straight Month
Nigeria has maintained its crude oil production above its Organisation of Petroleum Exporting Countries (OPEC) quota for the third consecutive month in July.
According to figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country produced an average of 1.505 million barrels per day (mbpd) of crude oil in July, slightly above its OPEC quota of 1.5mbpd.
The production figure was a slight decline from June's average output, with NUPRC attributing the reduction mainly to operational challenges at the Erha and Akpo fields.
The disruptions at these two fields contributed significantly to the reduction in overall national crude oil production, although operations across most other producing assets remained relatively stable.