Nigeria’s crude oil output hits 1.56 million barrels per day, the highest in four years; OPEC quota fulfillment rate is 104%, which is kind of interesting

Jiebiwang News: Nigeria’s June crude oil output reached a new high since 2020. The average daily production was 1.56 million barrels per day, exceeding OPEC’s allocated quota of 1.5 million barrels per day, with a quota execution rate of 104%. If condensate oil not subject to OPEC quotas is included, June’s total oil production averaged 1.735 million barrels per day, higher than May’s 1.7 million barrels per day, marking the fourth consecutive month of growth. June crude oil output was at the highest level since April 2020, reaching a 74-month high. Data show that the operation of oil-producing assets remained stable and there were no major pipeline disruptions, helping to maintain production continuity and crude oil transportation.