The Organisation of Petroleum Exporting Countries (OPEC), says Nigeria’s average daily crude oil production has increased significantly to 1.539 million Barrels Per Day (bpd) in January.
The country for the first time, met the OPEC production quota of 1.5 million bpd since it was set for the 2024 period at OPEC’s ministerial meeting in November 2023.
The News Agency of Nigeria (NAN) reports that the production figure which was released in OPEC monthly oil market report showed that the increase was against 1.485 million bpd recorded in Dec. 2024, which represented 54,000 bpd change.
In December 2024, the quota was extended to 2026 as Nigeria produced below the quota for over a year.
