Nigeria meets OPEC oil production quota for sixth straight month despite October decline
Nigeria recorded average daily crude oil and condensate production of 1,687,710 barrels per day in October 2026. The post Nigeria meets OPEC oil production quota for sixth straight month despite October decline appeared first on Nairametrics .
Nigeria met its OPEC oil production quota for the sixth consecutive month in October 2026, despite a decline in production. According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country produced an average of 1,687,710 barrels of crude oil and condensate daily in October. This figure represented 101% of the 1.5 million bpd quota set by OPEC.
The peak daily production in October was 1.79 million bpd, while the lowest output was 1.60 million bpd. Excluding condensates, Nigeria averaged 1.51 million bpd in October. This performance marked the sixth consecutive month Nigeria had met its OPEC production quota, following high production levels in May, June, July, August, and September.
The NUPRC attributed the strong production to improved operational stability, higher production uptime, and more efficient crude evacuation. Forcados and Bonny terminals recorded the highest output in October. The Dangote Group projects Nigeria's crude oil production could reach 1.72 million bpd in the fourth quarter of 2026, with an expected average of 1.62 million bpd for the full year.
OPEC has lowered its global oil demand growth forecast for 2026 by more than 70%, from 1.4 million bpd to 400,000 bpd, reflecting weaker-than-expected demand growth during the year.
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