Nigeria Meets OPEC Oil Quota for Sixth Straight Month
Nigeria averaged 1.51 million barrels per day in October, meeting its OPEC quota for the sixth consecutive month amid crackdowns on oil theft.
The Nigerian Upstream Petroleum Regulatory Commission reported that Nigeria produced a daily average of 1.51 million barrels of crude oil in October 2026. This figure represents 101% of the 1.5 million barrels per day quota assigned by OPEC, marking the sixth consecutive month the country has met its production targets.
Total production, including condensates, averaged 1,687,710 barrels per day, a 5.7% increase over October 2025, though this was a 1.7% decline from September 2026. The Forcados and Bonny terminals were the primary contributors to these figures. Regulators attributed the stability to improved operational uptime, crude evacuation efficiency, and a crackdown on oil theft and sabotage in the Niger Delta.
Looking forward, the Nigerian National Petroleum Company has set a target to increase national production to 2 million barrels per day by 2027. On a broader scale, total OPEC crude production rose by approximately 1.97 million barrels per day in October to reach 27.16 million barrels per day, driven largely by output increases in Saudi Arabia and Iraq. In contrast, Iran saw the largest decline in the alliance, with production falling by 44,000 barrels per day.
