Nigeria oil production rebounds to 2.15 mbpd in June

July 2, 2014

Nigeria’s crude oil production rose by 200,000 barrels a day to 2.15 million in June, a Bloomberg survey of Organisation of Petroleum Exporting Countries (OPEC) producers showed.

The gain in Nigeria was the second-biggest in the survey and the highest output since September.  Figures for Africa’s biggest producer are volatile because of unrest and theft in the Niger River delta, the main oil-producing region.
Production by the 12-member
OPEC rose by 278,000 barrels a day to 30.223 million, according to the survey of oil companies, producers and analysts.

OPEC ministers kept their output target unchanged at 30 million barrels a day on June 11 in Vienna. The group next meets on Nov. 27.

Oil prices have remained elevated as output dipped by over 400,000 barrels a day in Iraq, due to turmoil in the country.

Copyright, Business Daily Online, 2014.