ABUJA:Nigeria has sustained its compliance with the crude oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC) for six consecutive months, despite recording a decline in output in October 2026.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that the country recorded average daily crude oil and condensate production of 1,687,710 barrels per day during the month.
The figures were contained in a statement issued by the commission and signed by its Head of Media and Corporate Communications, Eniola Akinkuotu.
According to the NUPRC, Nigeria’s daily production peaked at 1.79 million barrels per day, while the lowest recorded output during the month was 1.60 million barrels per day.
Excluding condensates, crude oil production averaged 1.51 million barrels per day, representing approximately 101 per cent of Nigeria’s OPEC production quota of 1.5 million barrels per day
October’s performance represents the sixth consecutive month Nigeria has met its OPEC crude oil production target.
The country recorded average crude oil production of 1.53 million barrels per day in May, 1.55 million barrels per day in June, 1.51 million barrels per day in July, 1.50 million barrels per day in August and 1.53 million barrels per day in September.
However, production declined by 1.7 per cent month-on-month in October, indicating that the country’s continued compliance with its OPEC target came amid a slight reduction in output.
As of the time the NUPRC figures were reported, OPEC had yet to publish its monthly oil market report for October.
The regulatory commission attributed Nigeria’s recent production performance to improved operational stability, increased production uptime and more efficient crude oil evacuation.
These improvements, it said, reflect efforts by operators and other industry stakeholders to strengthen operational efficiency, maintain asset integrity and improve production reliability across the upstream petroleum sector.
A breakdown of crude oil and condensate output by terminals and production streams showed that Forcados recorded the highest average daily production in October.
Forcados Terminal accounted for 318.49 thousand barrels per day, followed by Bonny Terminal, which recorded 311.02 thousand barrels per day.
Other major contributors included Qua Iboe, with 173.97 thousand barrels per day; Escravos, with 134.67 thousand barrels per day; and Bonga, which produced an average of 106.65 thousand barrels per day.
The figures highlight the contributions of Nigeria’s major oil-producing terminals to the country’s overall production performance.
There are expectations of further improvements in Nigeria’s crude oil production before the end of the year.
The Dangote Group has projected that the country’s output could rise to 1.72 million barrels per day in the fourth quarter of 2026, with average production expected to reach 1.62 million barrels per day for the full year.
The projection, however, remains a forecast and should not be confused with actual production figures already reported by the NUPRC.
Meanwhile, OPEC has revised downward its outlook for global oil demand growth in 2026, cutting its forecast by more than 70 per cent, from 1.4 million barrels per day to 400,000 barrels per day.
The adjustment reflects weaker-than-expected growth in global oil demand.
Sustaining production above its OPEC quota for six consecutive months represents a positive development for Nigeria’s oil sector, particularly as the country continues to pursue higher crude oil output and improved revenue generation.
However, the October decline also highlights the need to sustain operational improvements, reduce production disruptions and address challenges affecting the country’s oil and gas infrastructure.
With higher output projected for the final quarter of 2026, attention will remain on whether Nigeria can translate improved production stability into stronger and more consistent crude oil volumes
