Nigeria records 1.69m barrels daily oil output in October
Nigeria’s crude oil and condensate production rose to an average of 1.69 million barrels per day in October, a 5.7% year-on-year increase. Read More: https://punchng.com/nigeria-records-1-69m-barrels-daily-oil-output-in-october/
Nigeria's crude oil production averaged 1.69 million barrels per day in October 2026, marking a 5.7% year-on-year increase, according to data from the Nigerian Upstream Petroleum Regulatory Commission. Despite a 1.7% decline from September, the country's production met its Organization of Petroleum Exporting Countries (OPEC) quota by producing 90,511 barrels more than the previous year.
The peak daily production reached 1.79 million barrels, while the lowest was 1.60 million barrels throughout the month. Nigeria's ability to exceed its OPEC quota has contributed to sustained foreign exchange earnings and government revenue, although actual export earnings depend on factors such as crude prices, domestic requirements, production costs, and available oil for export.
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- Nigeria records 1.69m barrels daily oil output in October punchng.com
- Nigeria’s crude oil output dips in October – NUPRC premiumtimesng.com
