This was disclosed by the Organization of Petroleum
Exporting Countries (OPEC), saying the country’s oil output increased by
approximately 202,000 bpd, resulting in 1.40 million bpd in January.
It was learnt that Nigeria’s production increased to 1.40
million bpd in January from around 1.33 million bpd in December 2021, exceeding
its OPEC quota of 1.701 million bpd.
Prime Business Africa gathered that Nigeria’s oil production
increased by 81000 bpd from 1.33 million bpd in December to 1.40 million bpd in
January, while Algeria, which follows Nigeria in the rear as the next Africa
country, increased production from 965 thousand bpd to 970 thousand bpd,
accounting for a minimal increase of only 5000 bpd.
The report read: “Nigeria had the highest increase in output
among its African peers in OPEC in January, trailing only the United Arab
Emirates (UAE), Saudi Arabia, Kuwait, and Iran.”
This Newspaper is aware the OPEC uses secondary sources to
monitor its oil output, but also publishes a table of figures submitted by its
member countries.
The 13-member oil cartel said its total crude production
averaged 27.98 million bpd in January, up 600,000 bpd month on month, while
noting that Nigeria, Saudi Arabia, the United Arab Emirates, and Kuwait were
primarily responsible for the Crude oil output increase experienced in its
total crude oil production.
Data gleaned from the monthly OPEC report also revealed
that, in terms of crude imports by source, Iraq maintained its lead in
November, with a 30 percent share. Saudi Arabia came in second with around 22
percent, followed by the UAE with around 9 percent, and Nigeria came in fourth
with around 7 percent.
0 comments:
Post a Comment