OPEC said this in its March Monthly Oil Market Report (MOMR).
According to the report, after Nigeria’s economy grew by 3.3 per cent in 2022, it is forecast to decelerate in 2023.
The OPEC report said Nigeria’s crude oil production for the month of August averaged 1.100 million barrels per day.
OPEC said the figure showed an increase of 5,000 barrels per day when compared to the 1.233 million bpd produced averagely in the month of May 2022.
The figure is a drop of 10,000 barrels per day when compared to the 1.427mbpd produced averagely in the month of January 2021.
This was contained in OPEC’s oil market report for October 2021.
