OPEC raises Nigeria's oil quota amid low production

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OPEC raised Nigeria’s oil production quota at its 27th OPEC and non-OPEC Ministerial Meeting, according to a statement released...'

on Thursday raised Nigeria’s production quota from April’s 1.735 million barrels per day to 1.753 million barrels per day in May.

On Thursday, OPEC said it decided to reaffirm the decision of its ministerial meeting on 12th April 2020 and further endorsed in subsequent meetings to reconfirm the baseline adjustment, the production adjustment plan and the monthly production adjustment mechanism approved by the organisation. OPEC and its allies also affirmed its decision to adjust upward the monthly overall production by 0.432 mb/d for May 2022.

 

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But due to technical difficulties d muppets in NNPC do not have d wherewithal to increase production as reported by Min. Sylva. 🇳🇬 is in debt but cannot raise revenue as NNPC lack capacity to take advantage. Buhari rather go bowl in hand than fix industry & refinery. Shamefool

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