National Economy
Tuesday, October 28, 2025
No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Energy
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Analysis
    • Money Guide
    • Growth
    • Sport Economy
News
National Economy
No Result
View All Result
  • Home
  • News
  • Lead-In
  • Energy
  • Economy
  • Tech
  • States & Politics
  • Commentary
  • Editorial
  • Data
  • Others

Nigeria’s October Production Rises, Sustains OPEC Output

by Chika Izuora
November 6, 2023
in Business, News
Production

Nigeria in October led oil in production output among member countries within the  Organization of the Petroleum Exporting Countries(OPEC).

The OPEC oil output rose for a third straight month in October, led by increases in Nigeria and Angola and despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.

The organisation pumped 27.90 million barrels per day (bpd), Reuters survey found, up by 180,000 bpd from September. Production in August had risen for the first time since February. 

October’s rise was led by Nigeria, which has seen a recovery in shipments which have often been hindered by crude theft and insecurity. Angola exported more cargoes and Iran, which has been boosting supply despite U.S. sanctions, also pumped slightly more, the survey found.

Output from the 10 OPEC members that are subject to OPEC+ supply cut agreements rose by 150,000 bpd, the survey found. Saudi Arabia and other Gulf members maintained strong compliance with agreed cutbacks and extra voluntary reductions.

YOU MAY ALSO LIKE

NAIRA SUSTAINS GAINS AS CONFIDENCE RETURNS TO FX MARKET

Stakeholders Seek Resilient, Inclusive Shea Industry To Boost Economy

It is based on shipping data provided by external sources, LSEG flows data, information from companies that track flows such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants.

 

Tags: OPECProduction
ShareTweetShare

OTHER GOOD READS

Naira Overvalued By 30% Against Dollar — Report
Business

NAIRA SUSTAINS GAINS AS CONFIDENCE RETURNS TO FX MARKET

6 hours ago
Stakeholders Seek Resilient, Inclusive Shea Industry To Boost Economy
News

Stakeholders Seek Resilient, Inclusive Shea Industry To Boost Economy

6 hours ago
Manufacturers Expect Further Lending Rate Cuts Following CBN’s 50bps MPR Reduction
Business

MAN Forecasts Stronger Naira, Lower Inflation, 4% GDP Growth By 2026

7 hours ago
Next Post

Marrakech: Beyond The World Bank, IMF Meeting Rooms

© 2025 | National Economy Newspaper | All Rights Reserved

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Energy
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Analysis
    • Money Guide
    • Growth
    • Sport Economy

© 2025 | National Economy Newspaper | All Rights Reserved