Nigeria’s average daily oil production fell to 1.67 million barrels per day (mbpd) in July 2026, representing a four per cent decline from the 1.74mbpd recorded in June.
The latest figures released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that the decline was linked mainly to operational difficulties at the Erha and Akpo oil fields.
Despite the setback, Nigeria continued to produce above its 1.5mbpd quota under the Organisation of Petroleum Exporting Countries (OPEC) for the third consecutive month.
The regulator’s data indicated that crude oil accounted for 1.505mbpd of July’s output, while condensate production stood at 0.17mbpd.
Combined daily production reached a peak of 1.78mbpd during the month and fell to a low of 1.57mbpd.
The July figure represented a moderation from the 1.70mbpd recorded in May and 1.74mbpd in June. Production had stood at 1.663mbpd in April, 1.546mbpd in March, 1.483mbpd in February and 1.627mbpd in January.
According to the NUPRC, production disruptions at the Erha and Akpo fields constrained national output during the month.
The commission said production at most other oil-producing assets remained relatively stable, with operators deploying measures aimed at sustaining efficiency and limiting the impact of operational challenges.
The latest performance suggests that Nigeria has continued to recover from the lower production levels recorded earlier in the year, although disruptions at major oil fields continue to undermine efforts to achieve more consistent output.
Government plans crude supply reforms
In a related development, the Federal Government is considering changes to the rules governing domestic crude oil pricing and allocation in an effort to improve feedstock access for local refineries.
The proposed amendments to the Domestic Crude Supply Obligation (DCSO) are expected to be considered during a regulator-led review this week.
The reforms are aimed at ensuring that domestic refiners, including the 650,000-barrel-per-day Dangote Refinery, can obtain crude at more competitive prices.
The Crude Oil Refinery-owners Association of Nigeria (CORAN) said the proposals could also allow refiners to deal directly with oil and gas producers in sourcing crude.
CORAN spokesperson, Eche Idoko, confirmed that the proposals were being considered, adding that their approval could change the current arrangement for supplying crude to domestic refineries.
Direct sourcing, according to the association, could help refiners secure more reliable feedstock and improve the economics of domestic refining.
Petrol prices fall at some Lagos depots
Meanwhile, petrol prices recorded marginal reductions at some petroleum depots in Lagos, Calabar and Warri on Wednesday, while diesel prices moved higher at some locations in Lagos and Port Harcourt.
The Mid-Day Price Report published by Petroleumprice.ng showed that petrol prices remained stable at several major depots, although some operators adjusted their prices downward.
At Dangote Depot in Lagos, petrol fell by N9 from N1,181 to N1,172 per litre.
MRS Depot maintained its price at N1,167 per litre, while African Terminal, Integrated and Pivot depots continued to sell at N1,200 per litre.
The movements reflect ongoing adjustments in the downstream market, where depot prices continue to respond to prevailing supply and market conditions.
Diesel prices, on the other hand, recorded increases at some depots in Lagos and Port Harcourt, indicating mixed movements across the petroleum products market.
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