Nigeria Surpasses OPEC Quota with July Crude Output

Nigeria's crude oil production surged to 1.505 million barrels per day (bpd) in July, exceeding its OPEC quota by 5,000 bpd.

This marks the third consecutive month that Nigeria has met or exceeded its OPEC quota, following June's output of 1.55 million bpd and May's output of 1.53 million bpd.

The July figure represents a 3.53 percent decline from the 1.56 million bpd recorded in June, according to data released by the Organization of Petroleum Exporting Countries (OPEC).