July 25, 2024

Pathfinder News

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OPEC Increases Nigeria’s Crude Oil Production Quota In July 

The Organisation of the Petroleum Exporting Countries (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.

OPEC disclosed this in a statement after its 29th OPEC and non-OPEC Ministerial Meeting.This comes after the Reuters survey disclosed that Nigeria’s crude oil production witnessed increasing production levels in the month of May after multiple laggard months, rising by 70,000 barrels per day and averaging 1.42 million bpd in May.