Nigeria Fails To Provide Oil Output Figure For September To OPEC

Nigeria Fails To Provide Oil Output Figure For September To OPEC

The Organisation of Petroleum Exporting Countries’ latest monthly report released on Wednesday showed that Nigeria failed to supply its crude oil production figure for last month to the group, The Punch reports.

OPEC uses secondary sources to monitor its members oil output, but also publishes a table of figures submitted by its member countries. Crude oil production from Nigeria increased to 1.855 million barrels in September from 1.804 million barrels the previous month, according to secondary sources.

Based on direct communication, the nation’s output stood at 1.742 million barrels in August but no figure was made available for September’s production, according to the report. OPEC said the group’s total production in September averaged 32.75 million bpd, showing an increase of 88,000 bpd over the previous month.

Last month, OPEC endorsed Nigeria’s position that the exemption granted it from oil cuts should be sustained until it stabilised its crude oil production. According to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, Nigeria will be prepared to cap its crude production when it has stabilised at 1.8 million bpd.

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