Nigeria’s crude oil production declined in October, with the country averaging 1.69 million barrels per day of crude oil and condensate, according to the National Upstream Petroleum Regulatory Commission (NUPRC).
The regulatory body released the figures, indicating a dip in output for the month. The reported volume includes both crude oil and condensate, which are liquid hydrocarbons produced from oil wells.
Nigeria is Africa’s largest oil producer and a significant member of the Organization of the Petroleum Exporting Countries (OPEC). The nation’s crude oil sector remains a critical component of its economy, serving as a primary source of government revenue and foreign exchange earnings.
The NUPRC is responsible for the regulation of the upstream petroleum industry in Nigeria, overseeing activities from exploration to production. Its monthly reports provide key data points for analysts and stakeholders monitoring the health of the country’s energy sector.
<small>Source: Premium Times Nigeria — read the original story there.</small>
