Nigeria's July oil output slips 4% but stays above OPEC quota as fields face issues
Nigeria's crude oil production declined by four per cent in July 2026 to an average of 1.505 million barrels per day, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported. Despite the drop, output remained above the OPEC quota of 1.5 million barrels daily for the third consecutive month. Condensate production added 0.17 million barrels per day, bringing total hydrocarbon output to 1.67 million barrels daily.
The July figure compares to June's average of 1.53 million barrels of crude oil plus 170,446 barrels of condensate, totaling 1.7 million barrels per day. NUPRC attributed the decline to operational challenges at the Erha and Akpo fields, which constrained volumes. Peak daily output reached 1.78 million barrels while the lowest was 1.57 million barrels during the month.
Terminal-level data showed Forcados leading with 322,340 barrels per day, followed by Bonny Terminal at 303,720 barrels, Qua Iboe at 158,020 barrels, Escravos at 131,410 barrels, and Bonga at 100,230 barrels. The commission said operators implemented measures to maintain efficiency and that stakeholders focus on restoring capacity and improving reliability.
For Africa's largest oil producer, production trends directly affect government revenue, foreign exchange, and fuel pricing. With petrol costs already straining household budgets, sustained output changes could influence subsidy policies and infrastructure investments. Will this latest dip prompt accelerated efforts to diversify the economy beyond oil, or reinforce calls for better asset management in the upstream sector?