Nigerian Upstream Petroleum
Regulatory Commission (NUPRC) has said the country’s oil production decreased to 1,400,783 barrels per day (bpd) in March.
Gatekeepers News reports that the figure represents the lowest output since the beginning of the year.
NUPRC made the report in its latest crude oil and condensate production data.
According to the data; output dipped by 64,223 opd in March, a 4.38% decrease compared to 1,465,006 bpd produced in February.
With the addition of condensate, Nigeria’s oil production dropped to 1.603 million bpd in March from 1.671 million barrels in February.
NUPRC noted that though oil output dropped in March, the average crude oil production is 93% of the 1.5 million bpd quota set for Nigeria by Organisation of Petroleum Exporting Countries (OPEC).
The commission said, “Lowest and Peak Combined crude oil and Condensate Production in March were 1.49 million bopd and 1.76 million bopd respectively.”
“The daily average production in March was 1,603,776 barrels per day, comprising of both Crude oil (1,400,783 bopd) and condensate (202,993 bopd). The average crude oil production was 93% of OPEC quota (1.5 mbpd).”
