The Organisation of Petroleum Exporting Countries (OPEC) has said Nigeria’s average daily production increased to 1.3 million barrels per day in July, 2024.
According to OPEC, direct communication with Nigerian officials served as the basis for the production data in its monthly oil market report, which was released on Monday.
The oil cartel receives data on crude oil production from two sources: direct communication — which is from member countries — and secondary communication, such as energy intelligence platforms.
OPEC further said the current output figure represents a 2.36 percent increase from the 1.27 million bpd recorded in June this year.
Consequently, the current production figure means that Nigeria retained its position as the biggest oil producer in Africa, surpassing Angola, which produced 909,000 bpd in July, according to the oil alliance.
OPEC said Congo was the third-largest oil producer in Africa in July, producing 257,000 barrels per day.
However, OPEC said secondary sources reported that Nigeria’s crude production increased by 0.74 percent to 1.38 million bpd — from 1.36 million bpd reported in June.
“According to secondary sources, total OPEC-12 crude oil production averaged 26.75 mb/d in July 2024, 185 tb/d higher, m-o-m. Crude oil output increased mainly in Saudi Arabia, Iraq and IR Iran, while production in Libya decreased,” the oil cartel said.
“At the same time, total non-OPEC DoC crude oil production averaged 14.16 mb/d in July 2024, 68 tb/d lower, m-o-m. Crude oil output decreased mainly in Kazakhstan, Russia and South Sudan.”
