In February 2025, Nigeria increased its oil production by 70,000 barrels per day (bpd), surpassing its OPEC+ target.
This boost contributed to the Organization of the Petroleum Exporting Countries (OPEC) reaching a total output of 26.74 million bpd for the month, marking an overall increase of 170,000 bpd from January’s revised figures.
OPEC+—which comprises OPEC members, Russia, and other allied producers—has maintained production cuts through March due to anticipated weak demand and rising supply from non-OPEC sources. However, on Monday, the alliance reaffirmed its decision to gradually increase output starting in April.
According to a recent survey, Iran recorded the highest production increase within OPEC, adding 80,000 barrels per day (bpd) and reaching 3.30 million bpd.
This matches its September production level, the highest since 2018. Iranian oil exports, which had rebounded during former U.S. President Joe Biden’s administration despite sanctions, now face renewed pressure under the current U.S. government, which aims to curb them further.
Nigeria followed with the second-largest production increase, pumping 70,000 bpd above its OPEC+ target. The rise was attributed to higher export volumes and increased domestic consumption, particularly at the Dangote refinery.
Meanwhile, Saudi Arabia and Iraq, OPEC’s two largest producers, saw minimal fluctuations in output—Saudi Arabia’s production slightly decreased, while Iraq’s increased marginally. Both countries continue to produce below their OPEC+ quotas, whereas the United Arab Emirates slightly exceeded its target.
While OPEC’s official secondary sources and January data indicate that Iraq and the UAE are producing near their assigned quotas, alternative estimates—such as those from the International Energy Agency—suggest that their actual production levels may be significantly higher.
The survey found no notable declines in OPEC production last month.
