Nigeria’s October crude output averages 1.69 million bpd, meeting OPEC quota for sixth month

SEATTLE (Oil Monster): Nigeria’s crude oil output averaged 1.69 million barrels per day (bpd) in October, upstream regulator data showed on Wednesday, with production peaking at 1.79 million bpd and dipping to 1.60 million bpd during the month.

• The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said October was the sixth straight month that Nigeria met its OPEC crude production quota.
• Excluding condensates, oil output averaged 1.51 million bpd, slightly above its 1.5 million bpd OPEC production quota.
• The regulator said stronger operations, improved production uptime, and more efficient crude evacuation helped sustain output.
• Among producing terminals, Forcados led output at 318,490 bpd, followed by Bonny with 311,020 bpd. Qua Iboe pumped 173,970 bpd, Escravos 134,670 bpd, and Bonga produced 106,650 bpd of oil and condensate output, NUPRC said.

Courtesy: www.cnbcafrica.com