Nigeria's Oil Production Surges as Pipeline Security Improves

Nigeria's oil production is on the rise due to improved pipeline security and increased peace in the Niger Delta region.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported that pipeline losses have dropped to historical lows, allowing for a fourth consecutive monthly increase in oil production.

This surge in production has reached 1.735 million barrels per day (mb/d) in June and is expected to boost government revenue and external reserves.