Nigeria’s crude output hits 2.3m bpd as pressure to join OPEC cuts rise

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The clamor to include Nigeria in the OPEC output cuts is likely to grow louder, with the country’s oil minister, Emmanuel Kachikwu, saying that current oil production is close to full capacity.

Nigeria’s oil production, including crude oil and condensates, is currently at around 2.2 million to 2.3 million b/d, Kachikwu said Thursday in a podcast released by the oil ministry.

“Oil production of course has risen on the back of this stability and we have moved from an all-time low of 1.2 million b/d and today it’s roughly about 2.2-2.3 million b/d, of course that includes condensate,” he said.

Kachikwu did not mention Nigeria’s prospects of joining the OPEC output cuts in the podcast, but this comes as questions linger on Nigeria’s involvement in the OPEC cuts as its output has recovered close to full capacity.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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