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Crude oil: Nigeria's production surpassed 1,507,000 barrels per day

20/08/2025
Source : ORISHAS FINANCE
Categories: Sectors

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A report from the Organization of Petroleum Exporting Countries (OPEC) mentions that Nigeria's average daily crude oil production reached 1,507,000 barrels per day in July.

OPEC announces an increase of 7,000 barrels per day compared to the approved quota for Nigeria. The OPEC monthly oil market report for July mentions that crude production increased slightly by 2,000 bbl/d, from 1,505 mb/d in June to 1,507 mb/d the following month. Crude oil production fell to 1.46 mbpd in February. The situation worsened in March, falling to 1.40 mbpd. Production increased again in April to 1.48 mbpj, before falling back to 1.45 mbpj in May

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PUNCH reports that it is the third time this year that the country's average crude production has reached the OPEC quota (January, June and July). The month of January recorded the highest production, with 1.54 mbpd

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