The Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, has stated that the plan to produce 2.06 million barrels of crude oil per day in 2025 remains on course despite the 1.5mbpd oil production quota set by the Organisation of Petroleum Exporting Countries.
This was as oil-producing countries confirmed their commitment to maintaining the crude oil production adjustments agreed upon during the 35th OPEC Ministerial Meeting until December 31, 2026.
Lokpobiri, in a statement issued by his media aide, Nnemaka Okafor, after the 38th meeting of the Joint Ministerial Monitoring Committee of OPEC on Thursday, reaffirmed the country’s commitment to maintaining price stability.
The meeting brought together ministers and heads of delegations to deliberate on critical strategies aimed at ensuring sustained stability in the global oil market.
Speaking in his address, the minister explained that the 2.06 million barrels per day production included in the 2025 Appropriation Bill includes condensate oil production.
He said the meeting “brought together Ministers and Heads of Delegations to deliberate on critical strategies aimed at ensuring sustained stability in the global oil market.
