Nigeria’s April Oil Production Fell Below 1mln bpd.

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Following a strike at Exxon Mobil’s local facilities, Nigeria’s oil production dropped below 1 million barrels per day (bpd) in April, its lowest level in seven months, according to figures from the petroleum regulator released.

Following averaging 1.28 million bpd in the first three months of the year, oil production decreased to 998,602 bpd in April, according to the most recent data from the Nigerian Upstream Petroleum Regulatory Commission.

Nigeria, which has a production capacity of 2.2 million bpd, has struggled to meet its 1.8 million bpd OPEC quota because of petroleum theft, pipeline vandalism, and a lack of fresh investment in the industry.

At 1.25 million bpd, total oil and condensate production for April decreased from  1.52 million bpd in March. The government has assumed oil production of 1.69 million bpd in this year’s budget.

Reuters.

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