Nigeria's Crude Oil Production Hits 15-Month High

AI Summary

Nigeria's crude oil production reached a 15-month high in May, pumping 1.53 million barrels per day, surpassing its OPEC+ quota despite previous challenges from sabotage and theft. The country's production is now at its maximum permitted level according to OPEC+ agreements.

Nigeria’s crude oil output jumped to a 15-month high in May as Africa’s top producer continues to ramp up production, data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed.  Nigeria pumped 1.53 million barrels per day (bpd) of crude last month, the highest level since January 2025, as the African country now produces at its ceiling per the OPEC+ group’s agreements, after years of failing to do so due to sabotage, oil theft, and oil spills.  Nigeria actually produced 102% of its OPEC+ quota of…