The total production volume of the Organization of the Petroleum Exporting Countries (OPEC) witnessed a noticeable decline during January, primarily driven by a drop in oil supply flows from Libya and Nigeria. Despite efforts made by other member states, led by Venezuela, to increase their production and compensate for this shortfall, the decline in Libya and Nigeria had the largest impact on the organization’s final figures.
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According to the survey conducted by the organization, OPEC’s total production reached approximately 28.34 million barrels per day in January, representing a decrease of 60,000 barrels per day compared to the levels recorded in December 2025. The survey results indicated that Nigeria topped the list of member states experiencing the largest drop in production rates, followed by Libya, which resulted in a shrinking of the organization’s total crude oil supply in the global market.
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On the other hand, production increases in several member states, particularly Venezuela, helped mitigate the severity of this overall decline, highlighting the continued disparity in production levels among OPEC nations. These fluctuations reflect the various challenges faced by producing countries, whether technical, security conditions, or economic variables directly impacting their ability to maintain stable production levels.