Nigeria’s Oil Output Hits Highest Level Since 2020
Business/Economy
Nigeria’s crude oil production averaged 1.56 million barrels per day (bpd) in June, the highest monthly figure since April 2020, according to the country’s oil regulator.
Including condensates, total oil output reached 1.735 million bpd, up from 1.700 million bpd in May.
The increase marks the fourth consecutive month of growth and puts Nigeria above its OPEC quota of 1.5 million bpd (104% compliance).
Key drivers of the recovery include stable operations across producing assets and the absence of major pipeline disruptions, improving uptime and crude evacuation.
The milestone underscore renewed momentum in Africa’s largest oil producer.
This positive trend could support higher government revenues amid relatively firm oil prices.
