The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in the month of June 2022.
The figure is a far cry from the 1.766 million barrels of crude oil per day that was allocated to Nigeria as production quota for June by OPEC.
This disclosure is contained in the Oil Market Report for July 2022 by OPEC where it was stated that the country’s crude oil production averaged 28.72 million barrels per day in June 2022.
OPEC has announced it has increased Nigeria’s crude oil production quota from 1.766 million barrels a day in June to 1.799 million barrels per day for the month of July.
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The report said the figure showed an increase of 5,000 barrels per day when compared to the 1.233 million barrels per day produced averagely in the month of May 2022. Nigeria has struggled to meet its crude oil production quota as the Nigerian oil and gas industry has been facing a lot of challenges recently as the oil output had been quite low.
