The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook the nation by producing higher volumes of crude during the review month.
The organization disclosed this in its September 2022 report, as it corroborated the figures released recently by the Nigeria Upstream Petroleum Regulatory Commission.
Hitherto, report has it that the 972,000 barrels per day is the lowest ever in recent years in Nigeria’s oil production history.
OPEC’s revealed that oil production in Nigeria dropped in August 2022, crashing below one million barrels per day to 972,394 bpd, the lowest ever recorded in years.
It stated that figures from the NUPRC indicated that the country’s oil production dropped from 1,083,899 bpd in July to 972,394 bpd in August.
Confirming this in its September 2022 oil sector report released on Tuesday, OPEC stated that the drop in Nigeria’s oil production made Angola and Libya to overtake Nigeria in oil output.
According to the report Angola was Africa’s highest crude oil producer for the month under review with an average production of 1.187mb/d.
It said Libya’s crude oil production averaged also 1.123mb/d for the month of August.
“According to secondary sources, total OPEC-13 crude oil production averaged 29.65 mb/d in August, higher by 618,000 month-on-month,” it stated.
“Crude oil output increased mainly in Libya and Saudi Arabia, while production in Nigeria declined,” it added.
