OPEC, in its latest monthly report on Wednesday for the month of November, said Nigeria’s oil output increased in November to 1.48 million barrels per day (bpd) from 1.33 million bpd in the previous month.
According to the world oil body, the production figure was Africa’s largest in October as the continent’s most populous country continued to maintain the top spot in the subsequent month.
OPEC said Nigeria surpassed Algeria, which produced 908,000 bpd, followed by Congo, which had an output of 268,000 bpd for the month of November.
It said its data was based on direct communication while adding that Nigeria’s crude production increased to 1.417 million bpd in November up from 1.4 million bpd in October.
“According to secondary sources, total OPEC-12 crude oil production averaged 26.66 mb/d in November 2024, which is 104 tb/d higher, m-o-m. Crude oil output increased mainly in Libya, IR Iran and Nigeria, while production in Iraq, Venezuela, and Kuwait decreased.
“At the same time, total non-OPEC DoC crude oil production averaged 14.01 mb/d in November 2024, which is 219 tb/d higher, m-o-m. Crude oil output increased mainly in Kazakhstan and Malaysia,” OPEC said.
Also, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said Nigeria’s crude oil production increased to 1.69 million bpd in November from 1.53 million bpd in October.
