Nigeria’s crude oil output rises to 1.38 million bpd in March – OPEC

Nigeria’s crude oil production rose to 1.38 million barrels per day in March, a 5.25 per cent increase from the 1.31 million barrels per day recorded in February, according to the Organisation of Petroleum Exporting Countries’ monthly oil market report.

The figures, drawn from direct communication with Nigerian authorities, show output is recovering but still falling short. Nigeria’s current OPEC production quota stands at 1.5 million barrels per day, leaving the country about 117,000 barrels per day below its allocation.

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Nigeria nonetheless retained its position as Africa’s largest oil producer, surpassing Libya, which recorded output of 1.30 million barrels per day in the same period.

Secondary source data compiled by OPEC painted a more optimistic picture, placing Nigeria’s March production at 1.46 million barrels per day — a 1.39 per cent rise from 1.44 million barrels per day in February. The divergence between official and secondary source figures has been a recurring feature of Nigeria’s production reporting.

The conflicting data extends beyond OPEC. On 4th April, the Nigerian Upstream Petroleum Regulatory Commission said daily crude output had reached 1.84 million barrels per day. Four days later, NNPC Group Chief Executive Bashir Ojulari put the figure at 1.71 million barrels per day.