Nigeria’s crude oil production has shown a slight increase from July to August, rising from 1.307 million barrels per day (mbpd) to 1.352 mbpd, as reported by the Organisation of the Petroleum Exporting Countries (OPEC) in its September Monthly Oil Market Report.
This represents a modest rise of 45,000 barrels per day.
OPEC’s data, derived from direct communication with the Nigerian government, indicated that the production figure for July was 1.30 mbpd. This recent increase follows a period of declining production levels.
In May, Nigeria’s production had dropped further to 1.25 mbpd from 1.28 mbpd in April, which was a decrease of 30,000 barrels per day.
The report highlights a trend of fluctuating production figures over recent months.
In March, production fell to 1.23 mbpd from 1.32 mbpd in February. However, there was a slight recovery in April, with production rising to 1.28 mbpd from 1.23 mbpd, marking an increase of 50,000 barrels per day.
Overall, Nigeria’s crude oil production saw a decrease from 1.427 mbpd in January to 1.322 mbpd in February, and then further declines before the recent uptick.
This pattern of fluctuation underscores ongoing challenges in stabilizing and increasing production levels.
