Analysts at Meristem Research are projecting an increase in Nigeria’s oil production in 2024 barring any significant, unexpected shock to the sector in the year.
The analysts made this known in its recently released Meristem 2024 Annual Outlook titled ‘Setting Sail for Gradual Recovery’
The report lamented the persistent challenges, including pipeline vandalism, illegal oil bunkering that led to the Rumuekpe-Nkopu explosion, oil theft, and the PENGASSAN strike in Q2:2023, noting that all these factors led to the decline of the oil sector’s output in the first half of the year by 8.97% YoY.
