BUSINESS DAY
Nigeria’s average daily crude oil production rose to 1.28 million barrels per day (bpd) in April, the Organisation of Petroleum Exporting Countries (OPEC) has disclosed.
This is even as the country reclaimed the top position as Africa’s biggest producer.
According to the cartel, the production data was based on direct communication with Nigerian authorities.
OPEC receives data on crude oil production from two sources: direct communication — which is from member countries — and secondary communication, such as energy intelligence platforms.
According to OPEC in its latest monthly oil market report released on Tuesday, the current output signifies a 4.07 percent increase from the 1.23 million bpd recorded in March — also indicating the first month-on-month production growth in the year.
In its recent report obtained by BusinessDay, the Nigerian Upstream Petroleum Regulatory Commission ( NUPRC) presented a similar report, stating that Nigeria’s crude oil output in April rose marginally by four percent to 1.28 million bpd compared to 1.23 million bpd recorded in March 2024.
However, in its latest May Monthly Oil Market Report, OPEC also put Nigeria’s oil output, excluding condensate during the period at 1.28 million bpd, based on information obtained from official sources.
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