Nigeria’s crude oil production climbed to a 74-month high in June, thanks to stable operations and improved pipeline reliability. Data from the Nigerian Upstream Petroleum Regulatory Commission showed crude output averaged 1.56 million barrels per day (bpd), exceeding its OPEC quota of 1.5 million bpd by 4%. Including condensates, which fall outside OPEC quotas, the country recorded a total output of 1.735 million bpd, up from 1.7 million bpd in May and marking a fourth consecutive monthly increase. June’s output was the highest since April 2020. Nigeria’s production has steadily risen from 1.483 million bpd in February, highlighting continued progress in restoring output and strengthening the country’s position as Africa’s leading oil producer.
CNBC Africa