Nigeria retained its position as the largest crude oil producer in Africa after an increase in the country’s January output, according to the Organization of the Petroleum Exporting Countries (OPEC) data. In its latest monthly report on Wednesday, the oil cartel said Nigeria’s oil output increased to 1.45 million barrels per day (bpd) in March…
Nigerian crude settled at about $70 per barrel, up from $68 earlier in the week. This is because U.S. crude inventories have recently decreased. Brent crude, which was trading at $69.3 per barrel on September 26, represents a slight monthly increase of 3 per cent. Nigerian blends usually trade at a slight premium to Brent…
Nigeria’s upstream oil sector has recorded a year-on-year output increase, averaging 1.63 million barrels per day (bopd) of crude oil and condensates in August 2025, This represents an improvement from 1.58 million barrels of oil per day (bopd) in the same period in 2024, according to the Crude Oil and Condensate Production for August 2025…
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…
