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Nigeria’s Oil output jumps to 1.18mbpd amidst fight against oil thieves

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Following the recent hike in the war against oil thieves within the Nigerian waters, the nation’s crude oil production rose to 1.185 million barrels per day in November 2022, representing the highest output by the country in the past seven months. Latest oil production figures obtained from the Nigerian Upstream Petroleum Regulatory Commission on Sunday showed that the country’s output increased by 171,119 barrels per day in November when compared to what was recorded in the preceding month. This came as the Organisation of Petroleum Exporting Countries announced on Sunday that the Document of Cooperation between the cartel and non-OPEC members had stabilised the oil market. Data sourced by our correspondent from the upstream regulator indicated Nigeria’s crude oil production in October 2022 was 1.014m barrels per day, but this moved up to 1.186mbpd in November. The last time Nigeria’s crude oil production crossed this figure was in April 2022 when the country pumped 1.219mbpd of crude, outside blended and unblended condensates. Further analysis of data from the regulator showed that the country’s crude oil output in May, June, July, August and September was 1,024,317bpd; 1,158,274bpd; 1,083,899bpd; 972,394bpd, and 937,766bpd respectively. Nigeria’s oil production had been crashing since 2021 following massive oil theft in the Niger Delta region, a development that denied the country billions of dollars in revenue.

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