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Nigeria’s Oil Output Drops to 1.65mbpd in May — NUPRC

Nigeria’s crude oil production declined slightly in May, falling to 1.65 million barrels per day (mbpd), according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The figure, released on Friday, represents a dip from April’s output of 1.68mbpd. The latest data from the NUPRC shows that crude oil alone accounted for 1,452,941 barrels per day in May, down from 1,485,700 barrels in April.

“The daily average production in May was 1,657,435 barrels per day, comprising of both crude oil (1,452,941 bopd) and condensate (204,493 bopd),” the commission stated.

Despite the drop, Nigeria still managed to hit 97 percent of its 1.5mbpd OPEC production quota.

The NUPRC further noted that “lowest and peak combined crude oil and condensate production in May were 1.61 million bopd and 1.810 million bopd respectively.”

This development comes as Nigeria continues to face challenges in ramping up production, despite being Africa’s top crude producer. The government recently urged oil companies to boost output and take advantage of new licensing rounds aimed at revitalizing underutilized assets.