Nigeria sees oil production rise to 1.736 mb/d in January


Nigeria’s oil output increased by 167,000 barrels per day (b/d) or 10.6 percent to 1.736 million barrel per day (mb/d ) in the month of January 2018, Vanguard reports.

The output was 1.569mb/d in December 2017, according to data from the Organisation of the Petroleum Exporting Countries (OPEC), Monthly Oil Market Reports (MOMR). The country’s oil production had dropped by 22,000 barrels per day in December 2017 against the November figure.

Nigeria had reached between 2.2 and 2.6 mb/d in the past before militancy in the Niger Delta in 2016 forced output below 1.2 mb/d. Nigeria had initially been exempted twice from OPEC’s oil output cutback agreement which kicked off in January 2017. But OPEC recently asked Nigeria to cap its production at 1.8 mb/d and upon hitting the prescribed output level the country would join the OPEC production cut agreement.