The Organization of the Petroleum Exporting Countries (OPEC) has reported that Nigeria’s average daily crude oil production rose to 1.505 million barrels per day (bpd) in June 2025.
This update was contained in OPEC’s latest Monthly Oil Market Report, released on Tuesday, which reviewed Nigeria’s drilling performance.
According to the oil cartel, the production figures were obtained through direct communication with Nigerian authorities.
OPEC typically sources its crude oil output data from two channels: direct communication with member countries and secondary sources such as energy intelligence platforms.
According to the report, the current output represents a 3.58 percent increase from the 1.453 million bpd recorded in May and marks the highest production level since January.
It also signifies the second time Nigeria has met OPEC’s 2025 production quota of 1.5 million bpd.
OPEC further noted that data from secondary sources estimated Nigeria’s crude oil production at 1.547 million bpd in June — a 1.24 percent rise from the 1.528 million bpd recorded in May.
With the current production level, the global oil organisation said Nigeria maintained its position as Africa’s leading oil producer, followed by Algeria, which recorded an output of 927,000 bpd.
Citing secondary sources, OPEC said “total DoC crude oil production averaged 41.56 mb/d in June 2025, which is 349 tb/d higher, m-o-m”.
Earlier this month, OPEC+ – OPEC and its allies – decided to increase production by 548,000 bpd in August.
According to the report, oil exports to OECD countries increased to 2,771 mb. OPEC stated, “Preliminary May 2025 data shows that OECD commercial inventories stood at 2,771 mb, an increase of 34.5 mb from the previous month. At this level, OECD commercial stocks were 75.1 mb less than the same time last year, 127.7 mb lower than the latest five-year average, and 184.2 mb below the 2015–2019 average.”
The report further shows that OECD total product stocks also increased by 20.1 mb, m-o-m, in May to stand at 1,413 mb.
This is 43.7 mb lower than the same time a year ago, 70.8 mb less than the latest five-year average, and 56.9 mb below the 2015–2019 average.
OPEC+ recorded a decline in crude oil output in May 2025, as several member states implemented voluntary production cuts to compensate for prior breaches of agreed production quotas.
The eight members involved in the group’s current accord raised production by 154,000 barrels a day, compared with a headline increase of 411,000 barrels a day, according to a monthly report from OPEC’s secretariat.
Earlier this month, OPEC projected a potential shortfall of 23 million barrels per day (bpd) in global oil supply by 2030 if upstream investments fall short of the estimated $17.4 trillion needed to meet future demand.
Earlier this month, OPEC projected a potential shortfall of 23 million barrels per day (bpd) in global oil supply by 2030 if upstream investments fall short of the estimated $17.4 trillion needed to meet future demand.
OPEC Secretary-General, Haitham Al Ghais, made this disclosure during the 24th Nigeria Oil and Gas (NOG) Energy Week Conference and Exhibition.