Nigeria's crude oil production hits 1.185 million BPD, highest figure recorded in 7 months

The data further showed that during the month under review - November 2022, the country’s output increased by 171,119 barrels per day when compared to the production figures recorded in the preceding month.

Crude oil production figures in October 2022 was 1.014 million barrels per day, but there was an increase as the figures moved up to 1.186 million BPD in November.

This update comes amid reports by the Organisation of Petroleum Exporting Countries, OPEC detailing how the Document of Cooperation between the cartel and non-OPEC members has succeeded in stabilizing the oil market.

This increased output comes as a result of the Nigerian government's renewed effort to intensify its security checks against the menace of oil theft in the country.

Since 2021, Nigeria’s oil production has been experiencing a massive drop following oil theft in the Niger Delta region, a development that has made the country lose billions of dollars in revenue.

The FG has, however, in partnership with the Nigerian National Petroleum Company Limited, NNPC and some security agencies, intensified efforts to check these massive oil theft by adopting some measures like the recent contract awarded to a former Niger-delta warlord, Government Tompolo which is unarguable yielding fruit with the recent discovery of some illegal pipelines used to syphon crude oil to unknown destinations.

The recent increase highlights the positive nature of the measures the FG is putting into place to check oil theft as the last time Nigeria’s crude oil production crossed this impressive figure was in April 2022 when 1.219 million BPD of crude was recorded.

Further data from the oil production records show 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.