OPEC

Latest crude oil price drop threatens Nigeria’s revenue and naira stability Nigeria’s average daily crude oil production rose to 1.507 million barrels per day (bpd) in July 2025, surpassing the Organization of the Petroleum Exporting Countries’ (OPEC) target for the second month in a row. This update was contained in OPEC’s latest Monthly Oil Market…

With a record of 104%, Nigeria exceeded the Organisation of Petroleum Exporting Countries (OPEC) crude oil production quota in June 2025 by four percent. In the month under review, the country’s crude oil output was 1.505million barrels of oil per day, surpassing the 1.5mopd, the cartel allowed it to produce. The Nigerian Upstream Petroleum Regulatory…