Commodities
Nigeria's Oil Output Rises as Pipeline Losses Decline
Nigeria's oil production has been steadily increasing due to reduced pipeline losses and improved security in the Niger Delta region.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a significant decline in pipeline losses, contributing to higher production levels.
According to NUPRC data, Nigeria met its OPEC production quota for the third consecutive month in July, producing approximately 1.67 million barrels per day of crude oil and condensate.