The average crude oil production recorded during May represents 102 per cent of Nigeria’s 1.5mbpd of production quota allocated by OPEC.
![Nigerian Upstream Petroleum Regulatory Commission[ Credit: Punch Newspaper]](https://gazettengr.com/wp-content/uploads/NUPRC-22.png)
The 65-year-old had been on bail since she was first arrested in London in October 2015.
According to OPEC, oil demand is expected to rise by around 160,000 bpd in 2025, led by growth in the Americas.
OPEC has appointed Ademola Adeyemi-Bero as chairman of the OPEC board of governors for 2025.
He expressed the federal government’s resolve to remain dedicated to fostering partnerships within OPEC and beyond.
OPEC says the rise will be fuelled by a world economy expected to double, growing from $138 trillion in 2023 to $270 trillion in 2045.
Nigeria’s and other West African countries’ growth rates are projected to rise from an estimated 3.6 per cent in 2023 to 4.2 and 4.4 per cent in 2024/2025.
The OPEC secretary-general lauded the effective participation of the oil gas stakeholders at COP28 and the successful hosting by the UAE, an OPEC member.
President Bola Tinubu will officially open the summit at the State House Banquet Hall, Aso Villa, on Tuesday.
According to the report, after Nigeria’s economy grew by 3.3 per cent in 2022, it is forecast to decelerate in 2023.
