OPEC Data Shows Nigeria’s Crude Oil June Output Up 1.27 million BPD
This is according to the Organisation of Petroleum Exporting Countries (OPEC) monthly oil market report for June 2024.
Nigeria’s daily average crude oil production in June stood at 1.362 million bpd- a decline of 10 thousand barrels when compared to the figure for the previous month of May which was 1.372 million bpd.
Despite the decline in production Nigeria retained its position as the largest oil producer in Africa closely trailed by Libya which produced 1.2 million bpd in June.
The 1.27 million barrels average crude oil production in June however means that for the first half of 2024, Nigeria has consistently failed to meet its OPEC production quota of 1.5 million barrels daily and its budget target of 1.78 million bpd.
Fossil Fuels
