Business
OPEC Increases Nigeria’s Oil Output To 1.829 Mb/d
The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC Ministers have increased Nigeria’s oil output to 1.829 million barrels per day (mb/d).
The decision was taken at the just-concluded 19th OPEC and non-OPEC Ministerial Meeting, ONOMM, held via videoconference on Sunday.
According to Vanguard, the new quota, which showed an increase of 30.6 per cent, when compared to the 1.4 mb/d, excluding condensate, currently being produced by Nigeria, will take effect from 2022.
