Nigeria Surpasses OPEC Quota for Third Straight Month in July
Nigeria's crude oil production has exceeded its Organisation of Petroleum Exporting Countries (OPEC) quota for the third consecutive month in July 2026. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported that the country produced 1.505 million barrels of crude oil daily and 0.17 million barrels of condensate, surpassing the OPEC quota of 1.5 million barrels per day.
The combined daily production stood at 1.67 million barrels per day, with a peak of 1.78 million barrels per day and a low of 1.57 million barrels per day. Forcados Terminal was the highest-producing stream, accounting for 322.34 thousand barrels per day, followed closely by Bonny Terminal.
The NUPRC attributed a four percent month-on-month decline in overall production to operational challenges at the Erha and Akpo oil fields. However, operators implemented measures to sustain production efficiency and reduce the effects of operational constraints.