Nigeria’s average daily crude oil production climbed to 1.505 million barrels per day (bpd) in June 2025, marking its highest output so far this year, according to the latest Monthly Oil Market Report released by the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday.
The June figure represents a 3.58% increase from May’s 1.453 million bpd and is the second time in 2025 that Nigeria has met its OPEC production quota of 1.5 million bpd. The milestone underscores ongoing efforts to stabilize and boost Nigeria’s oil sector amid global supply dynamics.
OPEC noted that this data was sourced directly from Nigerian authorities, though the cartel also provided estimates from secondary sources — such as energy analytics firms and shipping trackers — which put Nigeria’s June output slightly higher at 1.547 million bpd, up 1.24% from 1.528 million bpd in May.
Africa’s top oil producer maintains lead
With these figures, Nigeria has maintained its position as Africa’s largest oil producer, ahead of Algeria, which reported 927,000 bpd in June. Libya followed in third place, though official figures were not highlighted in this particular report.
The boost in production is significant as Nigeria continues to grapple with longstanding challenges such as pipeline vandalism, oil theft, and operational underinvestment that have historically hindered output.
Global oil dynamics and OPEC+ moves
The broader OPEC+ alliance — which includes non-OPEC producers such as Russia — recently decided to increase production by 548,000 bpd in August, reflecting a cautious optimism about global demand recovery.
According to OPEC, total crude oil production from the Declaration of Cooperation (DoC) members averaged 41.56 million bpd in June, representing a month-on-month increase of 349,000 bpd.
Despite these increases, the group continues to warn of future risks to supply stability. Earlier this month, OPEC Secretary-General Haitham Al Ghais projected a potential shortfall of 23 million bpd by 2030 if global upstream investments fall below the estimated $17.4 trillion required to meet future energy demands. He made these remarks at the 24th Nigeria Oil and Gas (NOG) Energy Week Conference and Exhibition, highlighting the urgency of investment in exploration and production infrastructure.
Exports to OECD markets on the rise
The OPEC report also noted an uptick in oil exports to OECD (Organization for Economic Co-operation and Development) countries. Preliminary data from May showed OECD commercial oil inventories standing at 2.771 billion barrels, a monthly increase of 34.5 million barrels.
Despite this rise, OECD stocks remain 75.1 million barrels below the same time last year and 127.7 million barrels lower than the latest five-year average, emphasizing tighter supply dynamics.
Additionally, total product stocks in OECD countries increased by 20.1 million barrels in May to 1.413 billion barrels, though still trailing historical averages.
What this means for Nigeria
For Nigeria, sustained production growth is critical for foreign exchange earnings and economic stability, especially as the country continues to diversify its revenue streams and tackle fiscal pressures.
Analysts caution, however, that maintaining this upward momentum will require addressing security concerns in the Niger Delta, investing in infrastructure upgrades, and improving regulatory certainty to attract more international investment.
The June figures suggest cautious progress, offering a glimmer of hope that Nigeria can consistently meet — and potentially exceed — its OPEC quotas in the coming months, further strengthening its standing in the global oil market.
