Nigeria took full its June 2025 Organization of the Petroleum Exporting Countries (OPEC) oil production quota at 1.505 million barrels per day (bpd) average daily. Nigeria satisfied the allocated production quota for the second time within a year, a sign of monumental improvement in its stability and effectiveness of its oil sector.
This is revealed in OPEC’s Monthly Oil Market Report published on Tuesday, which conducted a cautious estimate of production levels reported directly by Nigerian authorities. According to the report, Nigeria’s June production marks a 3.58 percent increase from May’s 1.453 million bpd. This level of production not only achieves but exceeds Nigeria’s OPEC quota and is the highest production rate Nigeria has so far attained since January 2025.
Independent energy tracking organizations aside, OPEC also receives information from independent sources. Its second-level sources released Nigeria’s June production at 1.547 million bpd, an increase from last month’s 1.528 million bpd, tiny as it was. Whichever the source-channel of data, Nigeria is still the African continent’s leading crude oil producer far ahead of Algeria with 927,000 bpd.
OPEC’s broader June report also indicated that combined production by its Declaration of Cooperation (DoC) members was 41.56 million barrels per day, an increase on a month-to-month basis by 349,000 barrels. This was after the first adjustment by the OPEC+ group, which includes OPEC and its allies like Russia, to raise overall output by 548,000 barrels per day in August.
Aside from production, trends in global oil movements were also positive. Export to Organisation for Economic Co-operation and Development (OECD) countries was increased, and total oil inventories among OECD members increased to 2.771 billion barrels in May. Still, this is lower than it has been traditionally, indicating the tightening of global oil supply even if inventories are higher.
The report also touched briefly on a far more serious issue: future global oil supply. The world can be as tight as 23 million bpd in 2030 if proper upstream oil exploration and development investment is not made, OPEC warned. OPEC Secretary-General Haitham Al Ghais announced the industry needs an eye-watering $17.4 trillion of upstream investment to be able to meet future energy demand. He approximated this at the 24th Nigeria Oil and Gas Energy Week Conference in Abuja.
Overall, Nigeria’s June oil production performance is in the right direction in demonstrating its oil sector capabilities and foreign exchange receipts, especially considering that world demand remains in sensitive mode and geopolitical tensions still taint world energy markets. Having the benchmark levels of production now established, the nation can now in theory be in a position to utilize its oil more effectively in an effort to sustain broad economic reform and fiscal discipline.
