The Organisation of Petroleum Exporting Countries (OPEC) has said Nigeria’s average daily crude oil production increased to 1.28 million barrels per day in April.
This was contained in its latest monthly oil market report, released on Tuesday.
According to the report, Nigeria’s current output marks a 4.07 per cent increase from the 1.23 million barrels per day recorded in March, representing the first month-on-month production growth in the year.
With this volume of production, Nigeria has reclaimed its position as the largest oil producer in Africa, with Algeria following closely in second place with an output of 907,000 barrels per day.
OPEC’s secondary sources reported Nigeria’s crude production at 1.35 million barrels per day in April, indicating a 3.15 per cent decline from the 1.39 million barrels per day recorded in March.
The secondary sources said total OPEC-12 crude oil production averaged 26.58 mb/d in April 2024, 48 tb/d lower, MoM and that crude oil output increased mainly in Congo and Iran, while production in Nigeria, Iraq and Venezuela decreased.
