The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported that Nigeria’s crude oil production decreased to an average of 998,602 barrels per day (bpd) in the month of April 2023.
Data released by the commission on the hydrocarbon resources output in the month under review, showed that the country produced 1.2 million (mbpd) April, comprising crude oil, blended condensates, and unblended condensates.
An analysis of the data based on the hydrocarbon resources components reflected that Nigeria produced 998,602bpd of crude oil, 66,317bpd of blended condensates and 180,110bpd of unblended condensates in the month under review.
As had been the case in the past months, in April 2023 the country did not meet up with the Organisation of Petroleum Exporting Countries (OPEC) allocated monthly quota.
According to NUPRC data, Nigeria produced 1,258,150bpd of crude oil in January; 1,306,304bpd of crude oil in February; and 1,268,202bpd of crude oil in March 2023.
The figures reflected that so far, the April 2023 998,602bpd output represented the lowest recorded by the country since the beginning of the year.
The government had put the nation’s oil production benchmark at 1.69 million barrels per day in the 2023 budget while the OPEC production quota was set at 1.8 million bpd
Nigeria’s low crude oil output over the past months has been linked to sundry militating factors, including lack of adequate investments, security risks, crude oil theft, and pipeline vandalism, among others.
