Nigeria's Oil Production Drops 4% in July, NUPRC Reports

In July, Nigeria's oil production fell by 4%, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The country produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, totaling a combined daily production of 1.67 million bpd.

Despite this decline, Nigeria met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month. The NUPRC reported a daily peak production of 1.78 million bpd and a lowest daily production of 1.57 million bpd during the month.

The commission attributed the production drop to operational challenges at the Erha and Akpo fields, which constrained production volumes significantly. However, production operations at most other producing assets remained stable, with operators taking measures to maintain efficiency and mitigate the impact of these operational constraints.