Nigeria attained 98.97% of its OPEC crude oil production quota in December 2024, averaging 1.48 million barrels per day (mb/d) as opposed to the allotted 1.5 mb/d.
Production Details:
- Crude Oil Output: 1.48 mb/d
- Blended Condensate: 49,276 barrels per day
- Unblended Condensate: 133,699 barrels per day
- Total Production: 1.66 mb/d
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the nation’s production peaked in December at 1.79 mb/d and fell as low as 1.57 mb/d. Compared to the output of 1.69 mb/d in November 2024, this performance represents a minor decrease.
Notwithstanding this accomplishment, Nigeria’s capacity to regularly meet its OPEC targets is still hampered by issues like pipeline damage and oil theft. Efforts are still being made to solve these problems and increase production capacity.
