Commodities
Nigeria's Crude Oil Production Meets OPEC Quota for Fourth Straight Month
Nigeria's crude oil production increased by 0.4% in August to meet its OPEC quota for the fourth consecutive month.
The country produced an average of 1,677,777 barrels of crude oil and condensate per day in August, compared to 1,500,190 barrels per day in strict crude oil terms (excluding condensate).
The highest daily combined production was 1.71mmbopd, while the lowest was 1.64mmbopd.
The production improvement was largely attributed to the resolution of operational challenges at the Erha field, which had impacted production in the preceding month.