Nigeria’s Crude Oil Production Hits 74-Month High, Exceeds OPEC Quota

Nigeria’s Crude Oil Production Hits 74-Month High, Exceeds OPEC Quota

Nigeria’s crude oil and condensate production rose to an average of 1.735 million barrels per day (mbpd) in June 2026, marking the fourth consecutive month of production growth and surpassing the country’s crude oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC).

According to production data released by the Nigerian upstream petroleum industry, the country produced an average of 1.56 million barrels of crude oil per day, alongside 0.18 million barrels of condensates, bringing total daily production to 1,735,398 barrels during the month.

The output represents 104 per cent of Nigeria’s OPEC crude oil production quota of 1.5 million barrels per day.

In terms of crude oil production alone, excluding condensates, the average output of 1.56 million barrels per day is Nigeria’s highest since April 2020, representing a 74-month production high.

The report also showed that the country’s combined crude oil and condensate production peaked at 1.89 million barrels per day during the month, highlighting Nigeria’s growing potential to achieve the 2 million barrels per day production target in the near future. The lowest daily production recorded during the period stood at 1.57 million barrels per day.

Production figures indicate a steady upward trend over the past four months, increasing from 1.483 million barrels per day in February to 1.546 million barrels in March, 1.663 million barrels in April, 1.700 million barrels in May, and 1.735 million barrels in June, representing a 2.2 per cent month-on-month increase.

Industry officials attributed the improved performance to stable operations across producing assets, enhanced production efficiency and the absence of major pipeline disruptions during the review period.

The report noted that although a few production assets experienced brief operational shutdowns, the overall impact on national output remained minimal. Scheduled turnaround maintenance activities were also completed without significantly affecting production.

It added that the sustained increase reflects the commitment of operators and stakeholders to improving operational efficiency, maintaining asset integrity and enhancing production reliability across Nigeria’s upstream petroleum sector.

A breakdown of production by export terminals showed that Bonny Terminal recorded the highest average output with 318.28 thousand barrels per day (kbpd), up from 293.88 kbpd in May.

Forcados Terminal followed with 306.36 kbpd, an increase from 289.90 kbpd recorded in the previous month.

Qua Iboe Terminal produced an average of 164.73 kbpd, slightly lower than the 173.36 kbpd recorded in May, while Escravos Terminal posted 138.03 kbpd, compared to 135.47 kbpd in the preceding month.

The Bonga Terminal ranked fifth, recording an average daily production of 103.66 kbpd, a marginal increase from 102.54 kbpd achieved in May.

The latest production figures underscore Nigeria’s continued progress in improving crude oil output amid ongoing efforts to strengthen the country’s petroleum industry and maximise production capacity.

Nigeria’s Crude Oil Production Hits 74-Month High, Exceeds OPEC Quota