Nigeria Boosts OPEC’s Oil Production Output In December Business
Mele Kyari, group chief executive officer, Nigerian National Petroleum Company Limited, at the 13th Global UAE Energy Forum, held recently, said that by the end of December Nigeria was pumping 1.519 million bpd.Nigeria’s directly reported production gains were more modest than secondary source reporting, at just 50,000 bpd, to 1.235 million bpd.
While Saudi Arabia’s production based on secondary sources increased in December 2022 at 10.478 million bpd, direct reported figures by Saudi Arabia show a production loss of 32,000 bpd, to 10.435 million bpd. A Reuters survey published in early January estimated that OPEC-13’s December production grew by 120,000 bpd over the previous month, at 29 million bpd. Bloomberg’s survey showed that the group’s production increased by an even larger amount of 150,000 bpd.
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