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Nigeria pumps record volumes in June as Iran risk returns
Nigeria produced 1.735 million bpd of crude oil and condensate in June, reaching 104% of its OPEC+ quota of 1.5 million bpd.
Nigeria’s crude oil output rose to a six-year high in June as operations stabilized, even as a fresh flare-up in Iran raised concerns about potential disruption to flows through the Strait of Hormuz, according to OilPrice. Oil output averaged 1.56 million bpd last month, the highest average monthly volume since April 2020, the outlet reported, citing data from Nigeria’s Upstream Petroleum Regulatory Commission (NUPRC). Total crude oil and condensate production increased for the fourth straight month to 1.735 million bpd.
The NUPRC said the improved performance was driven by stable operations across most producing assets and the absence of major pipeline outages during the period reviewed. It also linked the gains to better production uptime and crude evacuation efficiency, OilPrice added. Nigeria produced 104% of its OPEC+ crude quota, which is 1.5 million bpd, in June. OilPrice also noted that combined crude oil and condensate output peaked at 1.89 million bpd in June and that Nigeria’s total oil output increased from 1.48 million bpd in February to 1.735 million bpd in June.
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