Nigeria's January crude oil production rose to a six-month high

Nigeria's crude oil production rose to 1.46 million barrels per day last month, the highest level since July last year and higher than December's 1.42 million barrels per day. Data from the Nigeria Petroleum Management Committee showed that the January monthly production was equivalent to 97% of Nigeria's OPEC+ quota. Total crude oil and condensate production in January increased from 1.54 million barrels per day in December to 1.63 million barrels per day, with December production being the lowest since October 2024. The Nigeria Petroleum Management Committee stated that production in January fluctuated between 1.59 million barrels per day and 1.82 million barrels per day.