Key Market Indicators
Demand for Nigerian Crude Oil is projected to hit 24,800 metric tons in January 2022, a 500% year-on-year increase from 12,400 metric tons in December 2021. Since 2007, Nigerian demand has dropped 43%. Meanwhile, Nigerian Crude Oil Production is expected to reach 77,590 thousand tonnes of oil equivalent by 2026, a 1.7% decrease from 84,520 thousand tonnes of oil equivalent in 2021. Since 1976, Nigerian supply has decreased 1.5% on an annual basis.
