Market News
Nigeria’s Crude Oil Output Hits 2025 High at 1.559m bpd - TVC360
BY Opeyemi Owoseni
Nigeria’s crude oil production surged to a 2025 peak of 1.559 million barrels per day (bpd) in July, representing an 11% year-on-year increase, according to the Organisation of Petroleum Exporting Countries (OPEC).
The data, published in OPEC’s August 2025 Monthly Oil Market Report (MOMR), shows that output rose from 1.386 million bpd recorded in July 2024. On a month-on-month basis, production also saw a marginal 1% increase from 1.543 million bpd in June 2025.
OPEC noted that the July figure based on data from secondary sources represents Nigeria’s highest monthly output so far in 2025. When data from direct communication were considered, crude production also climbed, rising from 1.307 million bpd to 1.559 million bpd.
Despite the upward trajectory, the current output still falls short of Nigeria’s 2025 budget benchmark of 2.06 million bpd. The budget is predicated on a crude oil price of $75 per barrel and an exchange rate of N500 to the US dollar.
However, the July production surpassed Nigeria’s OPEC quota of 1.5 million bpd for the third time this year, a development that may trigger further scrutiny from the cartel regarding compliance.
