Nigeria's Crude Oil Production Peaks at 1.74mbpd Before Dipping
Nigeria's crude oil production has made significant strides in recent months, reaching a peak of 1.74 million barrels per day (mbpd) in June before dipping slightly to 1.68 mbpd in August.
The country produced a total of 306.99 million barrels of crude oil and condensate over the six-month period, with the average daily production standing at approximately 1.67 mbpd.
Despite this recovery, Nigeria's output remains significantly short of its assigned OPEC quota of 1.50 million barrels per day for August, which aligns with the country's production target.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) attributed the stabilisation of August's output to the successful resolution of complex operational challenges at the Erha deepwater field and improved security measures along critical pipeline corridors in the Niger Delta.