Nigerian Oil Production Declines Amid Operational Challenges

Nigeria's crude oil production dropped by four percent in July due to operational challenges at two major fields, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The commission attributed the decline to issues at the Erha and Akpo fields, which affected production during the month. Despite this setback, Nigeria still met its Organisation of Petroleum Exporting Countries (OPEC) quota for the third consecutive month.

The country's combined crude and condensate production stood at 1.67 million barrels per day in July, with daily average production fluctuating between a low of 1.57 million barrels per day and a peak of 1.78 million barrels per day.