Nigeria’s oil production dropped 4% in July – NUPRC

Nigeria's crude oil production experienced a 4% decline month-over-month in July, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Despite the dip, the country still met its Organisation of Petroleum Exporting Countries (OPEC) quota for the third consecutive month, producing 1.505 million barrels per day (mbpd) of crude oil and 0.17 mbpd of condensate, leading to a combined daily output of 1.67 mbpd.

This follows an increase from the 1.735 mbpd recorded in June. The drop in July was primarily attributed to operational issues at the Erha and Akpo fields, which hindered production. The NUPRC, however, noted that production activities at other oil-producing sites remained relatively stable. The agency expects stakeholders to focus on resolving the operational challenges to boost production in the coming months.