Nigeria’s oil production drops to new low, as price averages $117.25

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) oil output dropped to an average of 1.24 million barrels per day (bpd) from 1.25 million in February 2022, IgbereTV reports

NUPRC disclosed this in its latest crude oil and condensate production data for March 2022.

According to the NUPRC figure, this represents a 0.80 per cent decrease from the previous month — representing the lowest production capacity so far in the year