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Nigeria’s Oil Output Rises By 6.3% To 1.507m bpd

Nigeria’s oil production, excluding condensate, rose by 6.3% year-on-year (YoY) to 1.507 million bpd in December 2024, up from 1.418 million bpd in December 2023.

On a month-on-month (MoM) basis, the country’s oil output, excluding condensate, increased by 2% to 1.507 million bpd in December 2024, compared to 1.477 million bpd in November 2024, according to the Organization of Petroleum Exporting Countries (OPEC).

This data, sourced from secondary channels, was revealed in OPEC’s January 2024 Monthly Oil Market Report (MOMR), which was obtained by Vanguard.

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