Nigeria's crude oil output, including condensate, dropped month-on-month, MoM, to 1.486 million barrels per day, bpd, in April 2025, from 1.401 million bpd in March 2025.
The Organisation of Petroleum Exporting Countries, OPEC, disclosed this in its May 2025 Monthly Oil Market Report, MOMR, explaining that this was based on data obtained from direct communication.
However, the report noted that when data obtained from secondary sources were considered; Nigeria produced 1.471 million bpd during the period.
Also, crudes prices, including Nigeria's Bonny Light, yesterday, hovered at $66 per barrel, indicating $9 per barrel below the nation's $75 per barrel budget 2025 reference price, yesterday.
The Federal Government's 2025 budget of N54.99 trillion is based on $75 per barrel, 2.06 million bpd output and exchange rate N1, 500/$.
However, the OPEC report coincides with the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, May 2025 monthly report, which put the nation's oil output, including condensate at 1.683 million bpd in April 2025, indicating an increase of 5 per cent from 1.603 million bpd in March 2025.
The NUPRC, stated: "Lowest and Peak Combined crude oil and Condensate Production in April were 1.60 million bopd and 1.73 million bopd respectively.
"The daily average production in April was 1,683,307 barrels per day, comprising of both Crude oil (1,485,700 bopd) and condensate (197,607 bopd). The average crude oil production was 99% of OPEC quota (1.5 mbpd)."
It also stated that of the 1.683 million bpd output of crude oil and condensate accounted for 1.485 million bpd and 1.976 million bpd, respectively.
Meanwhile, NUPRC said the first cargo of its new Obodo crude blend has been exported to the global market.
In his statement, Gbenga Komolafe, the commission's chief executive officer (CEO), congratulated Conoil Producing Limited on the successful shipment of the first cargo of the crude blend, which was unveiled in March.
Komolafe said the development represents a major achievement for Nigeria's upstream sector, highlighting the growing capacity of local operators to play a significant role in the country's crude oil production and exports.
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