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Nigeria’s oil output drops to record low with 972,394 bpd

More worries for the Nigerian government as crude oil production dropped below the one million mark in August 2022.

According to TheCable oil output averaged 972,394 barrels per day (bpd) for the month, hitting an all-time low. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its latest crude oil and condensate production data for August 2022.

According to the report, the drop is more than 10 percent compared to July 2022 production at 1.08 million barrels a day and lower than the 1.8 million bpd production quota set by the Organisation of Petroleum Exporting Countries (OPEC).