Industrial oil storage tanks and valves highlight energy sector infrastructure.
Nigeria hit its Organization of the Petroleum Exporting Countries (OPEC) crude oil production quota in June, pumping an average of 1.5 million barrels per day (bpd). This marks a 3.58% increase from May and the second time Nigeria has reached its 2025 quota. The increased output, the highest since January, solidifies Nigeria’s position as Africa’s top oil producer. According to OPEC’s latest Monthly Oil Market Report, this progress was confirmed through direct communication with Nigerian authorities and aligns with secondary source estimates. Meanwhile, OPEC+ plans to raise output further in August, despite growing global supply concerns. However, with looming investment gaps, the pressure is on to sustain momentum amid shifting global energy dynamics.
Nairametrics