Nigeria’s crude oil production in September drops by 33,000 barrels – OPEC
Nigeria’s average crude oil production in the month of September declined by as much as 33,000 barrels to 1.405 million barrels per day. In its October oil market report, the Organisation of Petroleum Exporting Countries (OPEC) revealed that Nigeria’s crude oil production fell from 1.438 million barrels per day in August, according to secondary data […]
Nigeria’s average crude oil production in the month of September declined by as much as 33,000 barrels to 1.405 million barrels per day.
In its October oil market report, the Organisation of Petroleum Exporting Countries (OPEC) revealed that Nigeria’s crude oil production fell from 1.438 million barrels per day in August, according to secondary data from Nigerian authorities.
Direct communication shows that Nigeria’s average crude oil production for September was 1.324 million barrels per day, a drop of 27 thousand barrels compared to 1.352 million barrels per day in the previous month.
Despite this decline, Nigeria remained Africa’s largest oil producer, widening the gap with Libya, which experienced production setbacks due to the shutdown of key oil fields, reducing its output to 450 thousand barrels per day.
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The report also notes that other OPEC members, particularly Libya, faced difficulties with oil output in September due to ongoing unrest disrupting the country’s supply.
Nigeria, meanwhile, has been struggling to increase oil production to meet both its OPEC quota and local refinery demands. Since the beginning of the year, the country’s output has hovered between 1.2 and 1.3 million barrels per day.