Nigeria’s daily average oil production rose by 152, 000 barrels per day last November, according to data sourced from the newly released monthly oil market report by the Organization of the Petroleum Exporting Countries.
According to the OPEC MOMR for December 2024, the country’s production including condensates rose by 11 per cent, from 1.333 million barrels in October to 1.486 million in November 2024.
The analysis puts the daily increase to 152, 000b/d and about one million barrels increase between October and November last year.
This is as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in its latest oil production data, indicated that on a month-on-month basis, daily average oil output in December 2024, declined by 1.35 per cent from 1.690 million barrels per day recorded in November 2024, to 1.667mbpd.