Nigeria maintained its compliance with the Organisation of the Petroleum Exporting Countries (OPEC) crude oil production quota for the sixth consecutive month, despite recording a slight decline in output in October 2026.
Figures released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) show that the country produced an average of 1.51 million barrels of crude oil per day during the month, representing approximately 101 per cent of its 1.5 million barrels-per-day OPEC allocation.
When condensate production is included, Nigeria’s combined daily output averaged 1.687 million barrels, according to the commission’s latest production report released on Wednesday.
Daily crude oil and condensate production reached a high of 1.79 million barrels, while the lowest recorded output during October was 1.60 million barrels per day.
The latest figures indicate a 1.7 per cent month-on-month decline in crude oil production, suggesting that although Nigeria has maintained relatively stable output, production challenges remain.
Six months of meeting OPEC’s production target
The commission attributed the relatively steady performance to improvements in operational stability, production uptime and the efficiency of crude oil evacuation.
It also credited oil companies and other industry stakeholders with efforts to maintain production facilities, improve asset integrity and minimise operational disruptions.
Forcados leads Nigeria’s oil production terminals
A breakdown of production by terminal and crude stream showed that Forcados recorded the highest average output during the review period.
The terminal produced approximately 318,490 barrels of crude oil and condensate daily, placing it ahead of other major Nigerian export facilities.
Bonny Terminal followed with 311,020 barrels per day, while Qua Iboe recorded 173,970 barrels.
Escravos Terminal contributed an average of 134,670 barrels daily, while Bonga ranked fifth with 106,650 barrels per day.
The performance of these terminals highlights their importance to Nigeria’s upstream petroleum industry and the country’s ability to sustain crude exports.
Production stability remains important to Nigeria’s economy
Oil remains a major source of foreign exchange and government revenue for Nigeria, making production performance an important factor in economic planning.
Maintaining output within OPEC’s allocated limits while improving operational efficiency could strengthen government revenue, support foreign exchange earnings and improve confidence in the country’s petroleum sector.
However, the latest production decline also highlights the need for continued investment in infrastructure, security, maintenance and efficient crude evacuation systems.
Nigeria’s ability to sustain production growth will remain important as the country seeks to maximise the benefits of its petroleum resources while meeting its international production commitments.
