Crude oil production by the Organization of the Petroleum Exporting Countries (OPEC) rose by 263,000 barrels per day (bpd) in July compared to the previous month, reaching 27.54 million bpd, according to the group’s latest Monthly Oil Market Report just as Nigeria’s average daily crude oil production rose to 1.507 million barrels per day (bpd) in July 2025, surpassing the OPEC’s target for the second month in a row. This update was contained in OPEC’s latest Monthly Oil Market Report, released on Tuesday, which reviewed Nigeria’s drilling performance.
According to the oil cartel, the production figures were obtained through direct communication with Nigerian authorities. OPEC typically sources its crude oil output data from two channels: direct communication with member countries and secondary sources such as energy intelligence platforms. The report showed that the largest output increase came from Saudi Arabia, while Iraq recorded the biggest decline. Saudi Arabia, the group’s top producer, increased its output by 170,000 bpd to 9.53 million bpd. Iraq’s production, meanwhile, declined by 51,000 bpd to 3.90 million bpd. As a result, total OPEC crude output stood at 27.54 million bpd in July.
Meanwhile, total crude production by the OPEC+ group, which includes non-OPEC producers, rose by 335,000 bpd to 41.94 million bpd during the same period. OPEC kept its forecast for global oil demand growth in 2025 unchanged, projecting an increase of around 1.3 million barrels per day (bpd) year-on-year to reach 105.14 million bpd. Most of the growth is expected to come from non-OECD countries, where demand is projected to rise by 1.15 million bpd, while demand in OECD countries is forecast to grow by only 140,000 bpd. Total demand from non-OECD countries is estimated at 59.33 million bpd, with OECD countries accounting for the remaining 45.8 million bpd. In 2026, demand growth is expected to be around 1.23 million bpd in non-OECD countries and just 15,000 bpd in OECD economies. According to the report, the current output represents an increase from the 1.505 million barrels per day recorded in June. With the current production level, the global oil organisation said Nigeria maintained its position as Africa’s leading oil producer, followed by Algeria, which recorded an output of 937,000 bpd. Citing secondary sources, OPEC said, “Total DoC crude oil production averaged 41.94 mb/d in July 2025, which is 335 tb/d higher, m-o-m.”
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The data from OPEC suggest oil inventories around the world will deplete significantly next year — by almost 1.2 million barrels a day — unless the group and its allies revive more of the production they still have halted.
It said crude production from the 22 OPEC+ members increased by 335,000 barrels a day in July, with about half of the gain accounted for by Saudi Arabia. While the report showed that Saudi supply-to-market rose by 165,000 barrels a day last month to 9.525 million a day, it added in a footnote that the kingdom notified OPEC it reduced actual production by 551,000 barrels to 9.2 million barrels. Last week, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, said Nigeria’s oil production surpassed 1.8 million barrels per day last month, with current average output at 1.78 million bpd. The NUPRC boss noted that the output increase, largely possible due to the step-up in security operations, is part of a push to boost oil production by 1 million bpd to 3 million bpd. Similarly, in its performance report, the Nigerian National Petroleum Company Limited (NNPCL) said gas production in Nigeria rose slightly in June 2025 to 7.581 billion standard cubic feet per day (bscf/d), up from 7.352 billion bscf/d recorded in May. In addition, crude oil and condensate sales decreased to 21.68 million barrels in June from 24.77 million barrels in May
