Nigeria’s Crude Oil Output Falls to 1.51 Million Barrels a Day, Just Above OPEC Quota

Nigeria produced an average of 1.51 million barrels of crude oil per day in October, down 1.7 per cent from September and only marginally above its OPEC quota of 1.5 million barrels per day.

It was the sixth consecutive month that Nigeria met its quota, according to the Nigerian Upstream Petroleum Regulatory Commission.

Output had reached 1.55 million barrels a day in June and recovered to 1.53 million in September before slipping again in October.

The quota applies to crude oil. The regulator also tracks condensate, a lighter liquid recovered during oil and gas production.

On that broader measure, daily output peaked at 1.79 million barrels in October and fell as low as 1.60 million barrels, News About Nigeria reports.

Forcados led the terminals tracked by the regulator, averaging 318,490 barrels of crude and condensate per day. Bonny followed at 311,020 barrels with Qua Iboe third at 173,970 barrels, according to the NUPRC figures reported by Premium Times.