Nigeria's Oil Output Drops by 37k Bpd in July After Q2 Recovery
Nigeria's crude oil production declined by 37,000 barrels per day (bpd) in July, following a brief recovery in the second quarter of this year. According to OPEC's August Monthly Oil Market Report, Nigeria's output fell from 1.583 million bpd in June to 1.546 million bpd in July, representing a 2.3 percent month-on-month drop.
This decline interrupts a trend of rising production that had started in the second quarter. In Q2, Nigeria's oil output averaged 1.552 million bpd, up from 1.453 million bpd in Q1. The country's July output was still higher than its 2025 average of 1.510 million bpd.
OPEC noted that Nigeria's near-term outlook remains positive due to increased oil production, progress on reforms, infrastructure investment, and stronger business activity.