Nigeria’s crude oil output fell somewhat in January 2024 to 1.419 million barrels per day (mbpd), down from 1.422 million in December of last year.
The Organization of Petroleum Exporting Countries, or OPEC, announced this on Tuesday in its February Monthly Oil Report.
According to OPEC, the statistic implies a 3,000 barrel per day decline in Nigeria’s crude oil output, citing secondary sources.
“According to secondary sources, total OPEC-12 crude oil production averaged 26.34 mb/d in January 2024, lower by 350 tb/d, month-on-month. Crude oil output increased mainly in the UAE, Saudi Arabia and Venezuela, while production in Libya, Kuwait, Iraq and Algeria decreased,” the report said.
However, according to data obtained through direct communication, the nation’s oil production increased from 1.33mbpd to 1.42mbpd.
The development comes as the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe, said in an address at the Petroleum Technology Association of Nigeria, PETAN, Sub-Saharan Africa International Petroleum Exhibition and Conference, on Tuesday, that Nigeria’s oil production currently averages 1.586 million barrels per day (mbpd), made up of liquid 1.33 million bpd output and 256,000 condensate oil production.
