Nigeria Holds Above 1.5mbpd Crude Oil Output for Third Consecutive Month

Nigeria's crude oil production has remained above 1.5 million barrels per day (bpd) for the third consecutive month, despite a decline from June to July 2026.

According to the Organization of the Petroleum Exporting Countries' (OPEC) latest Monthly Oil Market Report, Nigeria's crude oil output fell to 1.505 million bpd in July from 1.555 million bpd in June.

The decline represents a reduction of 50,000 bpd from June, but production remained significantly above the levels recorded in the first quarter of 2026.

This sustained improvement has reinforced Nigeria's position as Africa's largest crude oil producer, with an average daily production of 1.525 million bpd in Q2 2026, up from 1.388 million bpd in Q1 2026.