Nigeria Surpasses OPEC Quota for Third Straight Month with 1.67mbpd Production
Nigeria's crude oil production has exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota for three consecutive months, with a total daily output of 1.67 million barrels per day in July.
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria produced an average of 1.505mbpd of crude oil during the month, while condensate production stood at 0.17mbpd.
The nation's ability to sustain production above its OPEC quota comes amid efforts by the Federal Government and industry regulators to boost crude oil production and maximise the country's upstream petroleum potential.
Nigeria's highest daily production of crude oil and condensate during the month was 1.78mbpd, while the lowest was 1.57mbpd.