Nigeria’s crude oil production increased in February, 2025 with the country producing approximately 70,000 barrels per day above its Organization of the Petroleum Exporting Countries quota, according to a Reuters survey.
OPEC’s oil output increased last month, driven by resilient Iranian exports despite renewed U.S. restrictions and Nigeria’s production exceeding its 1.5 million bpd target within the OPEC+ group.
Nigeria’s rising oil production has bolstered revenues and strengthened its position in the global energy market, creating opportunities for investment in public services, industrialization, and economic diversification.
The increased output also enhances Nigeria’s geopolitical influence within OPEC and among energy-dependent nations.
Nigeria’s rising oil production holds significant implications, boosting confidence in its ability to meet the 2025 target of 2.06 million bpd and finance its nearly N55 trillion budget.
Overall, OPEC’s output rose to 26.74 million bpd last month, an increase of 170,000 bpd from January, with Nigeria and Iran recording the largest gains, according to Wednesday’s survey.
The report stated that OPEC+, which includes OPEC plus Russia and other allies, is keeping production cuts in place through March due to expectations of limited demand and rising output outside the group.
However, on Monday, OPEC confirmed its plan to begin increasing output in April.
The largest production rise came from Iran, which added 80,000 bpd, bringing its total to 3.30 million bpd—the highest level since 2018, matching September’s output.
Iranian oil exports had rebounded during former U.S. President Joe Biden’s term despite sanctions, but under his successor, Donald Trump, the U.S. is renewing efforts to cut them to zero.
Nigeria recorded the second-largest output increase, driven by rising exports and higher domestic consumption at the Dangote refinery.
The country is producing 70,000 bpd above its OPEC+ target, the highest surplus within the group, according to the survey.
The survey found that output in OPEC’s two largest producers, Saudi Arabia and Iraq, saw slight changes—Saudi output declined, while Iraq’s edged higher. However, both nations remain below their OPEC+ targets.
The UAE’s production was slightly above its target, though estimates vary.
While OPEC’s secondary sources and the survey suggest the UAE and Iraq are near their quotas, the International Energy Agency estimates they are producing significantly more.
