Nigeria: Fresh Fears Over N54.99trn Budget As OPEC Puts Nigeria’s Oil Output At 1.544m Bpd

*** Oil price hovers at $73 per barrel

THE Organisation of Petroleum Exporting Countries, OPEC, yesterday, put Nigeria’s crude oil output, excluding condensate, at 1.544 million barrels per day (bpd) in May 2025.

This showed a marginal increase of 1.44 per cent from 1.522 million bpd recorded in April 2025.

In its June 2025 Monthly Oil Market Report, MOMR, released yesterday, OPEC said this was based on data based on secondary sources.

Also, many crude prices, including Nigeria’s Bonny Light,…