Nigeria recorded average crude oil and condensate production of approximately 1.68 million barrels per day in October 2026
Nigeria maintained its compliance with the Organisation of the Petroleum Exporting Countries (OPEC) crude oil production quota for the sixth consecutive month in October 2026, recording average daily crude oil and condensate output of approximately 1.68 million barrels per day (mbpd).
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that production averaged 1,687,710 barrels per day during the month, compared with approximately 1.72 million barrels per day in September. The decline represents a 1.7 per cent month-on-month reduction.
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Daily production peaked at 1.79 million barrels per day in October, while the lowest recorded output stood at 1.60 million barrels per day.
Excluding condensates, Nigeria produced an average of 1.51 million barrels of crude oil per day, equivalent to approximately 101 per cent of its OPEC allocation of 1.5 million barrels per day. This means the country exceeded its assigned quota by about 10,000 barrels daily.
The latest figures extend Nigeria's six-month run of meeting its OPEC crude oil production target, despite the slight decline in overall output during October.
Nigeria Sustains Six-Month OPEC Quota Performance
The NUPRC figures show that Nigeria maintained crude oil production at or above its OPEC quota from May through October 2026.
Crude oil output, excluding condensates, stood at 1.53 million barrels per day in May, increased to 1.55 million in June and moderated to 1.51 million in July. Production reached 1.50 million barrels per day in August, rose to 1.53 million in September and settled at 1.51 million in October.
The performance indicates a period of relative stability in the upstream sector, although production has not yet achieved the sustained growth needed to significantly expand the country's oil output and revenue base.
The commission attributed the recent stability to improved operational conditions, higher production uptime and more efficient crude evacuation. It also highlighted efforts by operators and industry stakeholders to maintain asset integrity and improve production reliability.
Forcados and Bonny Lead October Production
A breakdown of average daily crude oil and condensate production by terminal and stream showed that Forcados recorded the highest output in October, contributing 318.49 thousand barrels per day (kbpd).
Bonny Terminal followed with 311.02 kbpd, while Qua Iboe recorded 173.97 kbpd. Escravos Oil Terminal accounted for 134.67 kbpd, and Bonga ranked fifth with 106.65 kbpd.
The figures highlight the contribution of Nigeria's major production terminals to national output and the importance of maintaining reliable operations across upstream assets.
Production Decline Highlights Need for Sustained Upstream Investment
Although Nigeria met its OPEC quota for the sixth consecutive month, the October decline highlights the need to sustain investment in production infrastructure, operational efficiency and crude evacuation systems.
Production performance remains important to government revenue, foreign-exchange earnings and the country's capacity to meet budgetary assumptions. However, meeting the OPEC quota does not necessarily mean that Nigeria has reached its broader production potential.
For the property and construction sectors, stronger and more predictable oil production can support public revenue and foreign-exchange availability, with potential implications for infrastructure spending, building-material costs and investment conditions.
These benefits are not automatic. Their scale will depend on global oil prices, fiscal management, foreign-exchange policy and the extent to which petroleum revenue translates into productive investment.
Nigeria's immediate challenge is therefore to sustain production above its OPEC allocation while addressing operational and infrastructure constraints that could limit further growth.
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