Nigeria’s crude oil production rose to its highest level in more than six years in June, as stable operations and improved pipeline reliability boosted output, according to data released by the regulator on Sunday.
Africa’s largest oil producer pumped an average of 1.56 million barrels per day of crude oil last month, above the 1.5 million bpd quota allocated by the Organization of the Petroleum Exporting Countries, 4% more than its quota, data from the Nigeria Upstream Regulatory Commission showed.
Including condensates, which are not subject to OPEC quotas, Nigeria’s total oil production averaged 1.735 million bpd in June, up from 1.700 million bpd in May and marking a fourth consecutive month of growth.
June’s crude oil output was the highest recorded since April 2020, a 74-month high.
Stable operations across producing assets and the absence of major pipeline outages helped support production uptime and crude evacuation, according to the data.
Nigeria’s output has steadily increased in recent months, rising from 1.483 million bpd in February to 1.546 million bpd in March, 1.663 million bpd in April, 1.700 million bpd in May and 1.735 million bpd in June. June production was 2.2% higher than the previous month.
Reuters