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OPEC Increases Nigeria’s Crude Oil Production Quota 

OPEC Increases Nigeria’s Crude Oil Production Quota

Organisation of the Petroleum Exporting Countries (OPEC) has announced it has increased Nigeria’s crude oil production quota from 1.766 million barrels a day in June to 1.799 million barrels per day for the month of July.

News Agency of Nigeria reports that this was disclosed in a statement on Thursday after its 29th OPEC and non-OPEC Ministerial Meeting.Information Guide Nigeria

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This is following a recent Reuters survey stating that Nigeria’s crude oil production witnessed increasing production levels in the month of May.

According to NAIRAMETRICS, OPEC reported that “The 29th OPEC and non-OPEC Ministerial Meeting were held via video conference on June 2.

“The meeting noted the most recent reopening from lockdowns in major global economic centers. It further noted that global refinery intake is expected to increase after seasonal maintenance. Jamb Result

“The meeting highlighted the importance of stable and balanced markets for both crude oil and refined products.”

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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