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Home Economy

Nigeria Exceeds OPEC Quota for Fifth Month as Crude Output Reaches 1.53 Million bpd

Stephen Akudike by Stephen Akudike
October 14, 2026
in Economy
Reading Time: 2 mins read
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Oil Prices Waver Near $80 as OPEC+ Meeting Looms and Supply Concerns Persist
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Nigeria produced an average of 1.53 million barrels per day of crude oil in September 2026, exceeding its OPEC allocation for the fifth consecutive month. Figures from the Nigerian Upstream Petroleum Regulatory Commission show the volume represented 102 per cent of the country’s 1.5 million barrels-per-day quota.

The September total covers crude oil only and excludes condensates. The performance keeps Nigeria above its OPEC ceiling despite the operational and security challenges that have long constrained the upstream sector.

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Sustained Output Above Ceiling

NUPRC data indicate crude production has remained at or above the quota since May. Output stood at 1.53 million barrels per day in May, rose to 1.55 million in June, eased to 1.51 million in July and settled at 1.5 million in August before climbing back to 1.53 million in September.

Combined crude and condensate production averaged 1,717,030 barrels per day in September, a 2.34 per cent increase from the previous month. Daily volumes peaked at 1.84 million barrels and bottomed at 1.68 million barrels during the period.

Operational Stability Supports Gains

The regulator attributed the stronger performance to stable operations across most producing assets and the absence of major pipeline disruptions. Higher production uptime and more efficient crude evacuation helped sustain the rise in output.

NUPRC said the September result also reflected ongoing work by operators and other industry stakeholders to improve operational efficiency, maintain asset integrity and strengthen production reliability across the upstream sector.

Leading Terminals

Forcados Terminal recorded the highest average daily output of crude oil and condensate at 320,320 barrels per day. Bonny Terminal followed with 303,270 barrels per day.

 Implications for the Economy

The five consecutive months of compliance mark a contrast with earlier years when Nigeria frequently fell short of its OPEC targets. Improved asset reliability is supporting higher and more consistent production.

Because oil remains Nigeria’s primary source of foreign-exchange earnings, steadier output is expected to strengthen dollar inflows and expand fiscal room for the federal government. Condensate volumes, while contributing to overall liquids production, are not included in the OPEC quota calculation and therefore carry less weight in compliance assessments.

Tags: #OPECCrudeoilNNPCL
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