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Punch Newspapers punchng.com 04 Aug, 2022 01:00 am

Oil price falls, OPEC raises Nigeria’s production quota

Oil price falls, OPEC raises Nigeria’s production quota
The Organisation of Petroleum Exporting Countries on Wednesday raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per day, as Brent, the global benchmark for crude, dropped in price the same day.

4th August 2022 4th August 2022 The Organisation of Petroleum Exporting Countries on Wednesday raised Nigeria’s crude oil production quota for September 2022 to 1.Data obtained from OPEC showed that the 13-member organisation increased Nigeria’s oil production quota marginally from 1.However, Nigeria has not benefited much from the price increase because of its persistent inability to meet its monthly oil production quota approved by OPEC.772mbpd production quota by OPEC.

158mb/d Oil price: Expect soaring prices of products, LCCI warns Nigerians Nigeria’s oil price ‘windfall’ dilemma Meanwhile, the organisation stated that the latest crude oil production quota for September 2022 was arrived at during the 31st OPEC and non-OPEC Ministerial Meeting.It was gathered that Nigeria’s oil production in May 2022 was 1.

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