Nigeria's oil production continues to rise in November after hitting

Nigeria's oil production increased by almost 15% in November after Shell Plc's Forcados terminal reopened.

The West African country produced an average of 1.41 million barrels of oil and light hydrocarbons, according to data released by the Nigerian Petroleum Regulatory Commission. That result was recorded last month, compared to 1.23 million barrels in October. Crude oil production at 1.19 million barrels a day is still almost a third below the quota allowed by the OPEC+ alliance.

The enhancement was due to Shell restarting its terminal in October after a 10-week shutdown for maintenance work. According to NUPRC data, Production of oil grades exported from the facility nearly tripled last month to about 230,000 barrels a day.

Nigeria's production has declined steadily since early 2020 and hit a multi-year low in August, when the country briefly ceded its crown as Africa's biggest oil producer to Angola and then Libya, according to a Bloomberg review of OPEC production.