OPEC says Nigeria’s crude oil production fell by 4 percent in August to 1.43 million barrels per day, down from 1.50 million in July. The oil cartel noted that the figure, sourced from direct communication with Nigerian authorities, was below the country’s assigned quota of 1.5 million barrels.
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Despite the drop, Nigeria maintained its position as Africa’s top oil producer ahead of Libya, which produced 1.38 million barrels per day. The Nigerian Upstream Petroleum Regulatory Commission also reported that crude oil losses from theft and metering errors fell to their lowest levels in 16 years.
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