OPEC: Nigeria’s Crude Output Surpasses 1.5mbpd, First Time In 4 Years

Nigeria’s crude oil production has surpassed 1.5 million barrels per day (mbpd) for the first time in four years, surpassing its December 2024 quota set by the Organisation of Petroleum Exporting Countries (OPEC).

The output, which is excluding condensates, signifies a resurgence that is crucial for Nigeria’s economy, heavily reliant on oil revenues amid ongoing reforms aimed at boosting production capacity.

OPEC had previously set Nigeria’s production quota at 1.5 mbpd, which the country has now successfully met.

This is according to tanker tracking data compiled by Bloomberg, Nigeria’s output rose by 40,000 bpd to reach 1.51 million bpd, marking its highest production level in four years.

Read more at Leadership

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