Business:
Nigeria Meets OPEC Quota For Third Consecutive Month, Production Hits 1.67mbpd In July
The latest figure comes a month after the country met its production quota set by OPEC in June, 2026.
Oil
A graphic illustration of barrels of crude oil
Nigeria has for the third consecutive month met and exceeded its OPEC quota of 1.5 million barrels per day, latest statistics from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have revealed.
In the month of July 2026, Nigeria produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by four per cent.
The NUPRC attributed the decline in production to operational challenges experienced at the Erha and Akpo fields, which impacted production output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints.
The latest figure comes a month after the country met its production quota set by OPEC, as crude oil and condensate production soared to an average of 1,735,398 barrels per day in June 2026, representing positive growth for a fourth consecutive month.
According to a statement released by the NUPRC and signed by its Head, Media and Corporate Communications, Eniola Akinkuotu, on Sunday, in June, crude oil production hit 1.56mbpd while 0.18mbpd of condensates was produced.
This meant Nigeria met 104 per cent of the 1.5 mbpd crude oil production quota set by OPEC.
In strict crude oil terms (excluding condensates), the 1.56 million daily average production Nigeria witnessed in June was the highest that Africa’s biggest oil producer had recorded since April 2020, thus representing a 74-month high.
Business: Nigeria Meets OPEC Quota For Third Consecutive Month, Production Hits 1.67mbpd In July
Tags
Related Posts
CRAYCASTON HOTELS & SUITES, ABA: EXPERIENCE COMFORT, LUXURY AND EXCEPTIONAL HOSPITALITY UNDER ONE ROOF
From luxurious accommodation and exquisite dining to swimming pool, executive bar, conference facilities and round-the-clock services, Craycaston Hotels & Suites, located at No. 19 Nwaigwe Avenue, Aba, offers guests a complete hospitality experience where comfort, relaxation and quality service come together.
BIOR SUPREME HAIR MOUSSE: THE ULTIMATE STYLING ESSENTIAL FOR VOLUME, BOUNCE AND BEAUTIFULLY DEFINED HAIR
Achieve fuller-looking hair, well-defined curls and beautifully maintained hairstyles with Bior Supreme Hair Mousse from Biscon Cosmetics. Designed for effortless styling, it helps enhance volume, control frizz and provide lasting hold for a polished finish. Get yours today and give your hair the styling attention it deserves!
NiDCOM Hails ‘Record’ $1.57bn Diaspora Remittance Inflows In Q2 2026
The Nigerians in Diaspora Commission (NiDCOM) has celebrated a record $1.57 billion diaspora remittance inflow through International Money Transfer Operators in the second quarter of 2026, representing a 33 per cent increase compared with the same period in 2025. The figure, according to the commission, is the highest quarterly inflow recorded in the available data series since 2019, highlighting the growing contribution of Nigerians abroad to the country's foreign exchange supply and economic stability.