Nigeria meets OPEC quota for fifth consecutive month
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also showed that daily production peaked at 1.84 million barrels... The post Nigeria meets OPEC quota for fifth consecutive month appeared first on…
Nigeria's oil output has long fallen short of its OPEC-allocated quota, with pipeline vandalism, crude theft, ageing infrastructure and years of underinvestment by international oil companies cited as the main culprits. The shortfall has cost the country billions in lost revenue at a time when oil earnings remain central to funding the federal budget and defending the naira, making sustained compliance with OPEC targets a key benchmark the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the government have been keen to publicise as a sign of improving security around oil assets and operational efficiency.
Both Tribune Online and Premium Times draw on the same NUPRC data, highlighting that daily production peaked at 1.84 million barrels and that this marks the fifth consecutive month Nigeria has hit its OPEC-set quota. Neither report details the average production figure for the month, the specific quota number assigned to Nigeria, or how the latest performance compares with output from the preceding months, leaving the full trend line and the drivers behind the improvement unclear.