Overview
- Nigeria’s upstream regulator reported June combined crude-and-condensate output at 1,735,398 bpd with crude-only averaging 1.56 million bpd, the highest crude average since April 2020.
- The June figures met 104% of Nigeria’s 1.5 million bpd OPEC crude quota and included a peak combined flow of 1.89 million bpd that the regulator cited as evidence of near-term 2 million bpd potential.
- Condensate volume averaged 180,000 bpd in June, so the combined total differs from the crude-only number that matters for OPEC accounting.
- Production gains were concentrated at major export terminals, led by Bonny (318.28 kbpd) and Forcados (306.36 kbpd), with smaller increases at Escravos and Bonga and a decline at Qua Iboe.
- The regulator attributed the rise to stable operations, managed turnarounds and the absence of major pipeline outages, a change that could boost export receipts and the pace of further capacity restoration if sustained.