Nigeria exceeds OPEC quota with 70,000 bpd surplus in February

Nigeria’s crude oil production increased in February, 2025 with the country producing approximately 70,000 barrels per day above its Organization of the Petroleum Exporting Countries quota, according to a Reuters survey. OPEC’s oil output increased last month, driven by resilient Iranian exports despite renewed U.S. restrictions and Nigeria’s production exceeding its 1.5 million bpd target […]