Nigeria hits OPEC quota again, but oil output still trails budget target
Nigeria maintained compliance with its Organization of the Petroleum Exporting Countries (OPEC) production quota for the fourth consecutive month in August 2026, as crude oil output recorded a modest increase compared to the previous month. The post Nigeria hits OPEC quota again, but oil output still trails budget target appeared first on Nairametrics .
Nigeria has maintained compliance with its OPEC production quota for the fourth consecutive month in August 2026, producing an average of 1,677,777 barrels of crude oil and condensates per day. This output represents a modest 0.4% increase from the previous month and meets the country's OPEC quota benchmark. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) stated that the performance underscores the industry's ongoing efforts to improve operational efficiency and restore lost production capacity.
However, despite consistently meeting its OPEC quota, Nigeria's oil output still trails the budget target set in the Federal Government's 2026 budget.
Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.