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Nigeria’s crude oil production increased by 3.4% in August, reaching 1.352 million barrels per day. This is according to OPEC’s latest report.
This marks a rise of 45,000 barrels from July’s figures, based on direct communication with Nigerian authorities. Secondary sources reported a higher production of 1.448 million barrels per day, a 57,000-barrel increase from the previous month.
Nigeria remains Africa’s top oil producer, maintaining its lead over Libya, which faced production challenges. OPEC also revised global oil demand growth for 2024, reducing it to 2.03 million barrels per day.
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