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Nigeria’s Crude Oil Production April 2025 Nears OPEC+ Quota

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Nigeria crude oil production rose to 1.486 million bpd in April 2025, nearly hitting its OPEC+ quota of 1.5 million bpd

Nigeria’s crude oil production climbed to a two-month high in April 2025, signalling modest recovery efforts in Africa’s largest oil producer.

The crude oil production surge in April occurred amid the steep fall in global oil prices, which will affect Nigeria’s budget performance.

According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), crude oil production averaged 1.486 million barrels per day in April, up from 1.401 million bpd recorded in March.

April’s output represents a 6.06% rise from March’s production and the highest recorded since February, when production stood at 1.465 million bpd.

Nigeria’s crude oil production in April represented the country’s best performance since February. However, it fell short of OPEC+’s official quota of 1.5 million barrels per day.

Thus, April’s average crude oil production represents 99% of the 1.5 million bpd quota set for Nigeria by the Organization of Petroleum Exporting Countries (OPEC).

Nigeria Crude Oil Production (Jan–Apr 2025)

Month Crude Oil Production (bpd) OPEC+ Quota Compliance
January 1,538,697 103%
February 1,465,006 98%
March 1,400,783 93%
April 1,485,700 99%

Other Key Production Figures April 2025

Including condensate, Nigeria’s total oil production averaged 1.683 million bpd in April, up from 1.603 million bpd in March. April’s total output of 1,683,307 bpd comprises 1,485,700 bpd crude oil and 197,607 bpd condensates. OPEC does not include condensates in its quotas for member states.

According to NURPCC, daily production in April ranged between 1.60 million bpd at its lowest and 1.73 million bpd at its peak.

Nigeria Crude Oil & Condensate Production (Jan–Apr 2025)

Month Crude Oil Production (bpd) Condensate Production (bpd) Total Liquids (bpd) OPEC+ Quota Compliance
January 1,538,697 198,783 1,737,480 103%
February 1,465,006 206,948 1,671,953 98%
March 1,400,783 202,993 1,603,776 93%
April 1,485,700 197,607 1,683,307 99%

Note: OPEC+ quotas apply only to crude oil; condensates are exempt.

Ambitious Long-Term Plans to Boost Production

This increase in Nigeria’s oil production in April is a positive development for the country’s upstream sector.

President Bola Tinubu’s Special Adviser on Energy, Olu Verheijen, announced in February that Nigeria would target daily production of 2.7 million bpd of combined crude and condensate by 2027.

Thus, the production figure is still far from the 2.7 million bpd target.

Achieving such a production target will require substantial investments in exploration and infrastructure upgrades, and resolving the issues of crude theft and pipeline vandalism.

On May 12, Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, restated the firm’s commitment to exploring oil in Nigeria’s northern region to ramp up production.

The new NNPC GCEO, presented a roadmap on April 19 to revitalize Nigeria’s oil and gas sector. Regarding crude oil production, Ojulari presented an ambitious plan to boost output to over 2 million barrels per day by 2027 and 3 million bpd by 2030.

Also, Ojulari stated that NNPC Ltd aims to attract $30 billion in investments by 2027 and $60 billion by 2030.

On May 6, ExxonMobil pledged to invest $1.5 billion in deepwater exploration and development to rejuvenate the USAN deepwater oil field production. This investment is expected to be executed between the second quarter of 2025 and 2027.

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Crude Oil Prices May 28, 2025: Brent & WTI Rates

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Get the latest oil price data for May 28, 2025 including Brent & WTI crude prices, and factors influencing the oil prices

Crude oil prices surged on May 28, 2025 amid supply concerns as OPEC+ agreed to leave their output policy unchanged and as the US barred Chevron from exporting Venezuelan crude.

Brent crude oil price, on May 28, closed at roughly $64.32 per barrel compared with $63.57 recorded on May 27. At the same time, WTI crude oil price closed at approximately $62.26 per barrel compared with $60.89 recorded on May 27.

According to the Organization of the Petroleum Exporting Countries (OPEC), the basket price of thirteen crude oil blends stood at $63.78 per barrel on May 27, compared to $64.07 a barrel recorded on May 26.

The OPEC Reference Basket of Crudes (ORB) consists of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Specific crude oil prices for Nigeria’s Bonny Light, Brass River, and Qua Iboe for May 28 include:

  • The Trump administration issued a new authorization for US-major Chevron that would allow it to keep assets in Venezuela but not to export oil or expand its activities.
  • OPEC+, the Organization of the Petroleum Exporting Countries and allies, did not change output policy. It agreed to establish a mechanism for setting baselines for its 2027 oil production. A separate meeting on May 31 of eight OPEC+ countries is expected to decide on an increase in oil output for July.
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Crude Oil Prices May 27, 2025: Brent & WTI Rates

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Get the latest oil price data for May 27, 2025 including Brent & WTI crude prices, and factors influencing the oil prices

Crude oil prices fell on May 27, 2025 amid investors worries about a supply glut after US-Iran talks made progress and on expectations that OPEC+ will decide to increase output at a meeting this week.

Brent crude oil price, on May 27, closed at roughly $63.57 per barrel compared with $64.12 recorded on May 26. At the same time, WTI crude oil price closed at approximately $60.89 per barrel compared with $61.49 recorded on May 26.

According to the Organization of the Petroleum Exporting Countries (OPEC), the basket price of thirteen crude oil blends stood at $64.07 per barrel on May 26, compared to $63.63 a barrel recorded on May 23.

The OPEC Reference Basket of Crudes (ORB) consists of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Specific crude oil prices for Nigeria’s Bonny Light, Brass River, and Qua Iboe for May 27 include:

  • OPEC+ also meets next week where they will likely agree on further output increases. Eight OPEC+ members that had pledged additional voluntary cuts are now expected to meet on May 31.
  • US President Donald Trump’s decision to extend trade talks with the European Union until July 9 alleviated immediate fears of tariffs that could suppress fuel demand.
  • Meanwhile, the US & Iran wrapped up a fifth round of talks in Rome last week. While signs of limited progress emerged, there were many points of disagreement that were hard to breach, notably the issue of Iran’s uranium enrichment. Should nuclear talks fail, it could mean continued sanctions on Iran, which would limit Iranian oil supply.
  • Reports that US crude oil stockpiles rose by about 500,000 barrels last week.
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Crude Oil Prices May 21, 2025: Brent & WTI Rates

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Get the latest oil price data for May 21, 2025 including Brent & WTI crude prices, and factors influencing the oil prices
Crude oil prices fell on May 21, 2025 after the government released bearish data on crude and fuel supplies ahead of the start of the summer driving season in the United States, a period of higher demand. Prices had increased about 1% following reports Israel could be preparing to strike Iranian nuclear facilities raised fears of a supply disruption in the Middle East.

Brent crude oil price, on May 21, closed at roughly $64.38 per barrel compared with $64.76 recorded on May 20. At the same time, WTI crude oil price closed at approximately $61.57 per barrel compared with $62.56 recorded on May 20.

According to the Organization of the Petroleum Exporting Countries (OPEC), the basket price of thirteen crude oil blends stood at $65.60 per barrel on May 21, compared to $65.01 a barrel recorded on May 20.

The OPEC Reference Basket of Crudes (ORB) consists of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Specific crude oil prices for Nigeria’s Bonny Light, Brass River, and Qua Iboe for May 21 include:

  • According to the latest data from the Energy Information Administration, US crude, gasoline and distillate inventories all posted surprise builds in the week ended May 16. Crude inventories rose by 1.3 million barrels, while gasoline stocks rose by about 800,000 barrels and distillate stockpiles added about 600,000 barrels.
  • Kazakhstan’s oil production, has risen by 2% in May, defying OPEC+ pressure to reduce output.
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Crude Oil Prices May 20, 2025: Brent & WTI Rates

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Get the latest oil price data for May 20, 2025 including Brent & WTI crude prices, and factors influencing the oil prices
Crude oil prices fell on May 20, 2025 as traders weighed the impact on supply from Russia-Ukraine peace talks and US-Iran negotiations, strong front-month physical demand in Asia and a cautious outlook for China’s economy.

Brent crude oil price, on May 20, closed at roughly $65.38 per barrel compared with $65.54 recorded on May 19. At the same time, WTI crude oil price closed at approximately $63.02 per barrel compared with $62.14 recorded on May 19.

According to the Organization of the Petroleum Exporting Countries (OPEC), the basket price of thirteen crude oil blends stood at $65.01 per barrel on May 19, compared to $64.65 a barrel recorded on May 19.

The OPEC Reference Basket of Crudes (ORB) consists of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Specific crude oil prices for Nigeria’s Bonny Light, Brass River, and Qua Iboe for May 20 include:

  • The impact on supply from Russia-Ukraine peace talks which could swell supply and weigh on prices.
  • US-Iran negotiations. A deal would have paved the way for the easing of US sanctions and allowed Iran to raise oil exports by 300,000 barrels to 400,000 barrels per day.
  • Cautious outlook for China’s economy. Data released showed decelerating industrial output growth and retail sales in China, the world’s top oil importer.
  • A US sovereign downgrade by Moody’s also dampened the economic outlook for the world’s biggest energy consumer, pinning back oil prices. The ratings agency cut the US sovereign credit rating by one notch on Friday, citing concerns about its growing debt of $36 trillion.
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