The Organisation of Petroleum Exporting Countries (OPEC) says Nigeria’s average daily crude oil production rose to 1.28 million barrels per day (bpd) in April.

In its latest monthly oil market report released on Tuesday, OPEC said 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 the report, 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.

Accordingly, with the current volume of production, the oil-rich country regained its position as the biggest oil producer in Africa, with Algeria taking second position with 907,000 bpd output.

Meanwhile, OPEC’s secondary sources put Nigeria’s crude production at 1.35 million bpd in April — a 3.15 percent fall from the 1.39 million bpd recorded in March.

Also, the global oil cartel said secondary sources disclosed “total OPEC-12 crude oil production averaged 26.58 mb/d in April 2024, 48 tb/d lower, m-o-m”.

“Crude oil output increased mainly in Congo and IR Iran, while production in Nigeria, Iraq and Venezuela decreased,” OPEC said.

“At the same time, total non-OPEC DoC crude oil production averaged 14.44 mb/d in April 2024, 198 tb/d lower, m-o-m. Crude oil output increased mainly in Bahrain, while production in Russia and Kazakhstan decreased.”

On May 8, Gbenga Komolafe, NUPRC’s chief executive officer (CEO), said Nigeria has 37.5 billion barrels of crude oil and condensate reserves as well as 209.26 trillion cubic feet (TCF) of natural gas reserves.

helinues:

If the news said our production is low, you would have celebrated right?

Being an opposition don't mean you people should be opposing every positive moves by this government. That na village opposition

RenaissanceGuy:
Celebrating backwardness. Our oil production used to be 2.1m barrels/day many years ago.

Paraman:
This means we're going to get more dollars. I hope it keeps on increasing.

CheapHomes1:
who are the "we"? did you receive any dollars from petroleum sale?

helinues:


If the news said our production is low, you would have celebrated right?

Being an opposition don't mean you people should be opposing every positive moves by this government. That na village opposition

Paraman:
My comment is for the people with common sense

CheapHomes1:
does that exclude you? if it does not, then you should be able to shed light on the question asked. who are the "we"? did you receive any dollars from petroleum sale?

what is the result of all the previous dollars?

Paraman:
This means we're going to get more dollars. I hope it keeps on increasing.

helinues:


If the news said our production is low, you would have celebrated right?

Being an opposition don't mean you people should be opposing every positive moves by this government. That na village opposition

helinues:


If the news said our production is low, you would have celebrated right?

Being an opposition don't mean you people should be opposing every positive moves by this government. That na village opposition