Nigeria meets 104% of OPEC quota as crude production hits 74-month high

Nigeria’s crude lipid and condensate accumulation soared to an mean of 1,735,398 barrels per time successful the period of June 2026, representing affirmative maturation for a 4th consecutive month.

This was contained successful a connection by the spokesperson of the Nigerian Upstream Petroleum Regulatory Commission, Eniola Akinkuotu, on Sunday.

In the period nether review, crude lipid accumulation deed 1.56 mbpd, portion 0.18 mbpd of condensates was produced. This means Nigeria met 104 percent of the 1.5 mbpd crude lipid accumulation quota acceptable by the Organization of the Petroleum Exporting Countries.

In strict crude lipid presumption (excluding condensates), the 1.56 cardinal regular mean accumulation Nigeria witnessed successful June is the highest that Africa’s biggest lipid shaper has recorded since April 2020, frankincense representing a 74-month high.

In June, the highest combined crude lipid and condensate accumulation was 1.89 mbpd, reflecting Nigeria’s imaginable to scope 2mbpd successful the adjacent term. However, the lowest accumulation was 1.57 mbpd for the play successful review.

The statistic amusement that Nigeria has maintained an upwa...