OPEC Confirms Nigeria’s Oil Production Crash By 74,000b/d To 1.465mbpd
The Organisation of Petroleum Exporting Countries (OPEC) has confirmed that Nigeria’s crude oil production fell to 1.465 million barrels per day in February, 2025.
According to OPEC’s Monthly Oil Market Report for February released yesterday, using direct communication, the country’s crude oil production fell by 74,000 barrel per day.
Nigeria’s production in January was 1.539mbpd. Data from the Nigeria Up stream Petroleum Regulatory Commission (NUPRC) released on Tuesday had shown that the country’s daily average crude oil production for February 2025 was 1,465,006 barrels per day, while it was 1,538,697 bpd in January.
This is a decline by about five per cent. But using secondary sources, Nigeria’s oil production in February increased by 34,000b/d from 1.526mbpd in January to 1.560mbpd in February.
The report showed that Total OPEC production increased by 154,000b/d from 26.706mbpd in January to 26.860mbpd. It added that Total NonOPEC Doc increased by 208,000b/d from 13.943mbpd in January to 14.151mbpd in February. Total DoC rose by 363,000b/d from 40.571mbpd in January to 41.012mbpd in February. The report also stated the world oil supply and world oil demand.
It read: “Non-DoC liquids supply (i.e. liquids supply from countries not participating in the DoC) is expected tox epand by 1.0 mb/d in 2025 to average 54.2 mb/d. Growth is set to be driven by the US, Brazil, Canada and Norway, with the main decline anticipated in Angola. US crude and condensate production hit its highest level on record in December, averaging 13.5 mb/d, up by 0.1 mb/d, m-o-m.
This was primarily driven by strong production levels from offshore platforms. Conversely, natural gas liquids (NGLs) production fell to 7.1 mb/d, albeit up by 0.5 mb/d, y-o-y. In January and February 2025, total US liquids production is estimated to have been impacted by cold weather. Overall, US liquids supply growth for 2025 is expected at 0.5 mb/d.
