Nigeria's crude oil output in July 2024 rose slightly above 1.3 million barrels per day, up from June's output of 1.28 million. However, this still falls short of the 1.5 million bpd OPEC quota and far below Nigeria's 1.78 million barrels per day budget target for 2024. Lack of infrastructure and expertise, oil theft, and low investments continue to cripple output.
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