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HomeEconomyNigeria Oil Output Reaches Nine-month High

Nigeria Oil Output Reaches Nine-month High

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported that crude oil production in Nigeria reached a high of 1.235 million barrels per day in December 2022, the highest output since March.

This increase, from 1.185 million barrels per day in November, is attributed to the efforts of the Federal Government and security agencies in curbing oil theft.

In September 2022, production had fallen to a low of 0.937 million barrels per day, the lowest level in several years, due to the actions of pipeline vandals and oil thieves in the Niger Delta.

President Muhammadu Buhari has ordered security agencies to end crude oil theft and pipeline vandalism in the Niger Delta by May 29, 2023 in order to increase oil production.

Prior to these efforts, the country’s daily crude oil production was around 900,000 barrels per day, but has since risen to approximately 1.5 million barrels per day.

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