AGS NEWS – Nigeria’s daily oil production increased by 25,000 barrels per day, rising from 1.251 million barrels per day in May to 1.276 million barrels per day in July, according to the Organisation of the Petroleum Exporting Countries (OPEC) in its June Monthly Oil Market Report.

The report, based on direct communication with the Nigerian government, also noted that oil production had decreased from 1.28 million barrels per day in April to 1.25 million barrels per day in May.

Despite government efforts to boost production, Nigeria has not returned to its April level of 1.28 million barrels per day.

OPEC’s secondary sources indicated that production dropped from 1.37 million barrels per day in May to 1.36 million barrels per day in June.

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Previously, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, mentioned in May that crude production was approaching 1.7 million barrels per day, attributing earlier peaks to the effects of the COVID-19 pandemic which reduced theft and vandalism.

OPEC and the Nigerian Upstream Petroleum Regulatory Commission’s figures, however, showed a decline.

In April, Nigeria’s oil production increased slightly from 1.23 million barrels per day in March to 1.28 million barrels per day, according to OPEC.

Earlier production figures saw a drop from 1.32 million barrels per day in February to 1.23 million barrels per day in March, and from 1.427 million barrels per day in January to 1.322 million barrels per day.

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Amid stakeholder concerns over revenue loss due to low production, the NNPC declared a state of emergency on oil production, aiming to increase output and grow reserves.

Kyari emphasized the commitment to addressing production challenges during the Nigeria Oil and Gas Conference and Exhibition Week in Abuja.