Nigeria exceeds OPEC quota as oil production hits 11-month high

The average crude oil production recorded during the month of May represents 102 per cent of Nigeria’s 1.5mbpd of production quota allocated by the OPEC. The production report released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Thursday, disclosed that Nigeria’s oil production averages 1,530,354 barrels of crude oil and 170,446 barrels of condensates per day (bpd)