Nigeria’s Oil Production Plummets to 1.65 Million Barrels Daily as OPEC Quota Remains Elusive
Nigeria’s crude oil production has suffered another significant decline, dropping to 1.657 million barrels per day in May 2025, down from 1.683 million barrels recorded in April. The Nigerian Upstream Petroleum Regulatory Authority (NUPRC) confirmed the concerning trend on Friday, revealing that crude oil specifically decreased to 1.453 million barrels per day from April’s 1.486 million barrels.
This latest production shortfall means Nigeria is producing at only 97% of its 1.5 million barrel per day OPEC quota, highlighting the country’s persistent struggle to meet international commitments. The condensate production component stood at 204,493 barrels per day, with daily production fluctuating between a low of 1.61 million and a peak of 1.810 million barrels.
The production decline occurs at a critical time when Nigeria desperately needs oil revenue to support its economy and fund government operations. Industry experts warn that continued production shortfalls could severely impact the country’s foreign exchange earnings and budget implementation capabilities.
Source: ripplesnigeria.com
