Nigeria sustains oil production above OPEC quota

<img src="https://www.lindaikejisblog.com/photos/shares/Crude-oil_1755510963.jpg">Nigerias average daily crude production rose to 1,507,000 barrels per day in July, according to a report by the Organisation of the Petroleum Exporting Countries (OPEC)..This figure is 7,000 barrels per day above the quota approved for the country.The latest OPEC Monthly Oil Market Report shows that crude output increased marginally by 2,000 bpd, from 1.505 mbpd in June to 1.507 mbpd in July. This marks the second consecutive month that Nigerias oil production has exceeded its OPEC quota.It is also the third time this year that Nigeria has met or surpassed its quota in January, June, and July. January recorded the highest output at 1.54 mbpd. Production, however, fluctuated in the months that followed, dropping to 1.46 mbpd in February, 1.40 mbpd in March, rebounding to 1.48 mbpd in April, before slipping to 1.45 mbpd in May.The sustained output above quota in June and July is seen as a result of ongoing government efforts to boost production. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, highlighted the Project One Million Barrels Initiative launched in 2024 as a key driver.According to him, Nigeria is reviving dormant fields, expediting regulatory approvals, and improving operational efficiencies across the upstream value chain. He noted that the administration has successfully raised production (crude and condensates) from 1.4 mbpd to as high as 1.7 mbpd.Komolafe added that the recent increase of about 300,000 bpd reflects progress towards the governments target of achieving 2 mbpd.With a clear goal of ramping up production to 2.5 million barrels per day by 2026, the initiative has already shown strong momentum, with current daily production averaging between 1.7 and 1.83 mbpd, he stated.The post <a href="http://www.lindaikejisblog.com/2025/8/nigeria-sustains-oil-production-above-opec-quota-2.html">Nigeria sustains oil production above OPEC quota</a> appeared first on <a href="https://www.lindaikejisblog.com">Linda Ikeji Blog</a>.
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