Nigeria’s Oil Output Nears 1.7m BPD 2024 Budget Benchmark

There were indications that Nigeria has gotten close to meeting its 1.7 million barrels per day, bpd, 2024 budget target, yesterday, as oil output rose month-on-month, MoM, to 1.4 million barrels per day, bpd, excluding condensate, in August 2024, from 1.3 million bpd in July 2024, indicating an increase of 3.4 per cent.

The Organisation of Petroleum Exporting Countries, OPEC, disclosed this in its latest September 2024 Monthly Oil Market Report, MOMR, obtained by Vanguard, adding that the data…