Nigeria's June Crude Output Hits 1.56M Barrels/Day, 104% of OPEC Quota; Highest Since 2020

According to regulators, Nigeria's crude oil production in June averaged 1.56 million barrels per day, exceeding its OPEC-allocated quota of 1.5 million barrels per day and marking a 104% quota fulfillment rate. The output represents the highest level since April 2020, a 74-month peak. Including condensate production outside OPEC constraints, Nigeria's total petroleum output averaged 1.735 million barrels per day in June, up from 1.7 million in May and extending a fourth consecutive month of growth. Stable operations across production facilities and improved pipeline reliability supported the output increase.
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