Nigeria's oil output hit highest level since 2020 in June, regulator says



Nigeria's crude oil production rose to its ​highest level in more than six years ‌in June, as stable operations and improved pipeline reliability boosted output, according to data released by the regulator on Sunday.


Africa's ​largest oil producer pumped an average of ​1.56 million barrels per day of crude oil ⁠last month, above the 1.5 million bpd quota ​allocated by the Organization of the Petroleum Exporting Countries, ​4% more than its quota, data from the Nigeria Upstream Regulatory Commission showed.

Including condensates, which are not subject to OPEC ​quotas, Nigeria's total oil production averaged 1.735 million ​bpd in June, up from 1.700 million bpd in May and ‌marking ⁠a fourth consecutive month of growth.

June's crude oil output was the highest recorded since April 2020, a 74-month high.
Stable operations across producing assets and the absence ​of major ​pipeline outages ⁠helped support production uptime and crude evacuation, according to the data.

Nigeria's output has ​steadily increased in recent months, rising from ​1.483 ⁠million bpd in February to 1.546 million bpd in March, 1.663 million bpd in April, 1.700 million bpd ⁠in ​May and 1.735 million bpd in ​June. June production was 2.2% higher than the previous month.

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