Nigeria exceeded its Organisation of the Petroleum Exporting Countries (OPEC) crude production quota for a third consecutive month in July, even as output declined from the previous month, according to the latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)Nigeria
produced an average of 1.505 million barrels per day (bpd) of crude oil in July, slightly above its 1.5 million bpd OPEC quota, NUPRC said. An additional 170,000 bpd of condensate brought combined crude and condensate production to 1.67 million bpd.
The July result represents a 3.75% month-on-month decline from June’s revised crude and condensate output of about 1.735 million bpd. NUPRC described the decline as roughly 4% month on month.
The regulator attributed the weaker July performance to operational challenges at the Erha and Akpo fields, which affected production volumes during the month. NUPRC said the disruptions contributed significantly to the reduction in national crude output, while production at other assets remained relatively stable.
Despite the setback, daily combined crude and condensate production fluctuated between 1.57 million bpd and 1.78 million bpd during July, highlighting continued volatility in Nigeria’s upstream operations.
The latest figures also underline the distinction between Nigeria’s total petroleum liquids and the crude volume relevant to its OPEC quota. July’s 1.505 million bpd crude output was only about 5,000 bpd above the 1.5 million bpd benchmark, while condensates lifted total liquids production substantially higher.
The three-month run of quota compliance is significant for Nigeria, where oil remains an important source of government revenue and foreign-exchange earnings. Sustaining production at or above the OPEC benchmark could support export receipts and fiscal performance, although actual revenue will also depend on international oil prices, production costs and other fiscal factors.
The immediate challenge for operators is therefore to resolve the operational constraints at Erha and Akpo without allowing the July decline to develop into a sustained production reversal.
For Nigeria, the priority remains clear: convert recent production stability into sustained growth while maintaining compliance with its OPEC commitment.
