Business
Nigeria’s oil production up by 133,000 to 1.16m bpd in June
Nigeria’s oil production rose to 1.16 million barrels per day (bpd) in June from 1.02 million recorded in May 2022.
The figure rose more than 133,000 bpd, representing a 0.13 percent increase from May 2022 output.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its latest crude oil and condensate production data for June 2022.
With the addition of condensate, oil output grew to a total of 1.40 million bpd from 1.28 million posted last month.
In January, February, March and April, the country’s oil production averaged 1.39 million bpd, 1.25 million bpd, 1.24 million bpd and 1.22 million bpd, respectively.
Since April 2020, the country’s output figures stood between 1.02 million bpd and 1.40 million — below the production quota set by the Organisation of Petroleum Exporting Countries (OPEC).