Nigeria’s crude oil output fell by 1,000 barrels per day in December 2024, the Organisation of Petroleum Exporting Countries, (OPEC) has stated.
This was contained in the Monthly Oil Market Report (MOMR) for December 2024 released yesterday. According to the report, using direct communication, Nigeria crude oil production was 1.485million barrels per day in December as against 1.486mbpd in November 2024 implying a 1,000b/d decline.
Saudi Arabia produced 8.926mbpd in Nov and 8.906mbpd in December, a decline of 20,000b/d; Veneuzuala 2.922mbpd in November but 2.817mbpd, a decline of 105,000b/d while Iraq’s output in November was 3.721mbpd but 3.689mbpd in December a fall of 32,000b/d.
But using secondary source, Nigeria’s output in Nov was 1.477mbpd, 1.507mbpd in December, an increase of 30,000b/d; Saudi Arabia, 8.962mbpd in Nov but 8.938mbpd in Dec, a fall of 23,000b/d; Libya, 1.238mbpd in Nov, 1.290mbpd in December, an increase of 53,000b/d and Kuwait 1.238mbpd in Nov and 1.290mbpd in Dec, an increase of 53,000b/d.
The Total Non-OPEC Doc was 13.953mbpd in Nov, 13.913mbpd in Dec, a decline of 40,000b/d; Total DOC in Nov 40.669mbpd, and 40.654mbpd in Dec a fall of 14,000b/d.
