Nigeria’s crude output hits highest level since 2020

Nigeria’s crude oil production has climbed to its highest level in over six years according to official data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

NUPRC said the country’s strict crude oil production—excluding condensates—surged to an average of 1.56 million barrels per day (bpd) in June, a peak after years of systemic supply disruptions.

The milestone represents the highest monthly output recorded by the West African nation since April 2020, representing a 74-month high. It also means Nigeria has officially surpassed its OPEC-mandated production ceiling, hitting 104% of its 1.5 million bpd quota.

Combined with 180,000 bpd of condensates, Nigeria’s total average daily output reached 1.74 million bpd in June.

The continuous production growth, which has risen steadily for four consecutive months from 1.48 million bpd in February, is being hailed as a triumph of stabilized field operations and improved infrastructure security in the Niger Delta.

Historically, massive pipeline vandalism and industrial-scale oil theft have crippled the country’s output. A Senate committee report recently estimated Nigeria’s accumulated losses to oil theft at $300 billion. In response, a concerted government and military crackdown in the delta has successfully deterred pipeline sabotage, allowing major export terminals to operate at near-maximum capacity.

According to NUPRC, the domestic operational environment has become significantly more reliable.

“The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review,” the commission stated in an official release signed by Eniola Akinkuotu, Head of Media and Corporate Communications.

“This enhanced operational stability supported improved production uptime and crude evacuation efficiency.”

The recovery has injected fresh optimism into Nigeria’s fiscal outlook, as oil receipts still account for more than 90% of the country’s vital foreign exchange earnings. The federal government’s $50 billion budget for this year relies on stable national production benchmarked at 1.8 million bpd.

Speaking at a recent industry summit in Abuja, Bashir Ojulari, Chief of the state-owned NNPC Limited, reaffirmed the country’s upward trajectory towards its ambitious near-term targets.

“NNPC remains on track to raise national output to two million barrels per day,” Ojulari told delegates. He attributed the ongoing turnaround directly to “improved operations at five export terminals, which averaged 98% availability.”

The NUPRC also reported that terminal-specific output rose across the board, with the major Bonny Terminal leading national supply at 318,280 bpd, closely followed by the Forcados Terminal at 306,360 bpd.

Despite the positive domestic momentum, international market dynamics remain highly volatile. Global Brent crude prices jumped above $78 per barrel this week on geopolitical concerns surrounding shipping access through the Strait of Hormuz.