Thursday, 13 March 2025 04:46

Nigeria's oil production declined in February 2025, OPEC data shows

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Nigeria's crude oil production decreased to 1.46 million barrels per day (bpd) in February, according to the latest monthly market report from the Organization of Petroleum Exporting Countries (OPEC).

The figures, based on direct communication with Nigerian authorities, represent a 4.8% decline from January's output of 1.53 million bpd, marking the first month-on-month decrease of the year.

Interestingly, secondary sources cited by OPEC painted a different picture, reporting Nigeria's February production at 1.56 million bpd—a 2.2% increase from January's 1.52 million bpd. OPEC collects production data through both direct communication with member countries and secondary sources such as energy intelligence platforms.

Despite the production drop reported through direct channels, Nigeria maintained its position as Africa's largest oil producer, with Algeria following in second place at 912,000 bpd.

In the broader context, OPEC reported that total crude oil production across its 12 member countries averaged about 41.01 million bpd in February. Production increases were noted in several countries including Nigeria, Iraq, and Iran, while Gabon and Congo experienced declines.

Meanwhile, non-OPEC Declaration of Cooperation (DoC) countries produced 14.15 million bpd in February, showing a decrease from the previous month. Kazakhstan saw production increases, while Mexico, Malaysia, and Russia reported lower output.

The report comes shortly after OPEC and its allies (OPEC+) announced plans on March 3 to increase oil output in April.​​​​​​​​​​​​​​​​

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