Nigeria’s crude oil production rose from 1.024 million barrels per day to 1.158 million barrels per day in the month June 2022, that’s according to the recent report from the Organisation of Petroleum Exporting Countries.
OPEC in its Monthly Oil Market Report for July 2022 stated that higher futures prices and strong physical crude market fundamentals drove the increase, amid higher crude demand from refiners and several supply disruptions.
The report also shows that the country produced more crude oil in April this year, as its output at the time was 1.219 million barrels per day, while crude oil production in May 2022 recorded 1.024 million barrels per day.
Meanwhile, OPEC noted that it dedicated its July 2022 Monthly Oil Market Report to its late and immediate past Secretary-General, Mr Mohammad Sanusi Barkindo who passed away on July 5, 2022 in his home country of Nigeria.
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