• Contact Us
  • About Us
Wednesday, September 2, 2026
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Oil & Gas

Nigeria Meets OPEC Quota For Third Consecutive Month, Production Hits 1.67mbpd In July

metro by metro
August 12, 2026
in Oil & Gas
0
OPEC
0
SHARES
0
VIEWS

 

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.

Read Also

Middle East Crisis Pushes Crude Oil Above $95 As US, Iran Trade Fresh Strikes

Amid Falling Oil Prices, Dangote Refinery Increases Petrol Price To ₦1,200 Per Litre

Oil prices Fall $2 On Iran-Oman Talks To Reopen Strait of Hormuz

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.

READ ALSO:Amid Generous Tax Waivers, Nigeria’s EV Ambitions Run Into Reality Of Weak Electricity Supply

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.

Previous Post

Amid Generous Tax Waivers, Nigeria’s EV Ambitions Run Into Reality Of Weak Electricity Supply

Next Post

IEA Cuts 2026 Oil Demand Forecast Again As Hormuz Remains Shut

Related Posts

Oil Prices Up After OPEC+ Maintains output Cuts, But Shaky Demand Caps Gains
Oil & Gas

Middle East Crisis Pushes Crude Oil Above $95 As US, Iran Trade Fresh Strikes

September 2, 2026
DPR Pursuing Alternative Feedstocks For Unit Utilisation, Promises To Reveal Identities Of Misleading Narrators
Oil & Gas

Amid Falling Oil Prices, Dangote Refinery Increases Petrol Price To ₦1,200 Per Litre

August 26, 2026
Oil Stocks Declining ‘Very Fast’, IEA Chief Warns
Oil & Gas

Oil prices Fall $2 On Iran-Oman Talks To Reopen Strait of Hormuz

August 26, 2026
Four Weeks After, Marketers Still Awaiting Dangote Fuel
Oil & Gas

Investors Focus On oil Supply Costs As Nigeria’s Dangote Refinery Nears Record IPO

August 26, 2026
Next Post
IEA Cuts 2026 Oil Demand Forecast Again As Hormuz Remains Shut

IEA Cuts 2026 Oil Demand Forecast Again As Hormuz Remains Shut

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Oil Prices Up After OPEC+ Maintains output Cuts, But Shaky Demand Caps Gains

Middle East Crisis Pushes Crude Oil Above $95 As US, Iran Trade Fresh Strikes

September 2, 2026

The Women Stewarding African Business: The Definitive List of Women CEOs 2026

August 31, 2026
Rival Factions Stand Off In Niger Capital After Mutineers Attack Airport, Presidency

Rival Factions Stand Off In Niger Capital After Mutineers Attack Airport, Presidency

August 29, 2026
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version