* Tops Africa’s list
The Organisation of Petroleum Producing Countries (OPEC) has approved 1.826million barrels per day production quota for Nigeria for October 2022.
The cartel is eyeing a total output of 43.3854mb/d for the period.
While 10 OPEC+ countries have the mandate to produce 26.689mb/d, the Non-OPEC countries got the go ahead to produce 17.165mb/d.
The organisation made this announcement through a statement as its 32nd OPEC and non-OPEC Ministerial Meeting was held via videoconference on Monday.
The production table on the meeting noted that Saudi Arabia and Russia, which topped the list, are to produce 11.004mb/day each.
While Sudan has the least quota of 75,000b/d, Nigeria topped the list of African countries, followed by Angola with 1.525b/d quota.
The meeting, according to the statement, reaffirmed the decision of the 10th OPEC and non-OPEC Ministerial Meeting on April 12, 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on July 18, 2021.
It noted that the meeting “Revert to the production level of August 2022 for OPEC and non-OPEC Participating Countries for the month of October 2022 as per the attached table, noting that the upward adjustment of 0.1 mb/d to the production level was only intended for the month of September 2022.”