Nigeria’s crude oil production in July rose to 1.307 million barrels per day, according to the monthly oil market report from the Organisation of Petroleum Exporting Countries (OPEC).
This represents an increase of 30,000 barrels per day compared to June 2024’s production of 1.276 million barrels daily, based on direct communication with Nigerian authorities.
In contrast, secondary sources reported Nigeria’s average daily crude oil production in June at 1.386 million barrels per day, up by 16,000 barrels from May’s figure of 1.369 million barrels per day.
Despite this growth, Nigeria remains Africa’s largest oil producer, followed by Libya, which produced 1.175 million barrels per day in July. However, Nigeria’s production still falls short of the 1.5 million barrels per day quota set by OPEC.
The Nigerian government, through the Nigerian National Petroleum Company Limited (NNPCL), aims to increase production to two million barrels per day by the end of December 2024.