{
  "id": 14219127,
  "title": "Nigeria’s oil output hits 1.53 million bpd, maintains OPEC quota for fifth month",
  "url": "https://urgent.news/2026/10/13/nigerias-oil-output-hits-1-53-million-bpd-maintains-opec-quota-for",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T14:18:56.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/13/nigerias-oil-output-hits-1-53-million-bpd-maintains-opec-quota-for-fifth-month/"
  },
  "original_language": "en",
  "account": "In September, Nigeria's crude oil output reached 1.53 million barrels per day (bpd), successfully meeting the Organization of the Petroleum Exporting Countries (OPEC) quota for the fifth consecutive month. This rise in production, from 1.50 million bpd in August, follows an upward trend in the third quarter of 2026, although production levels have fluctuated throughout the year. OPEC's monthly oil market report, released on Tuesday, highlighted that Nigeria's crude oil production averaged 1.512 million bpd during the third quarter of 2026, compared to 1.525 million bpd in the previous quarter. This latest increase signifies further progress in Nigeria's crude oil production, while the nation maintains adherence to its OPEC quota. Nigeria's overall oil production figures have also shown positive developments, with combined crude oil and condensate production increasing by 0.4% to approximately 1.678 million bpd in August, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Dangote Group predicts that Nigeria's crude oil production could reach 1.72 million bpd in the fourth quarter of 2026, with an average monthly output of 1.62 million bpd for the entire year. However, these projections differ from the actual OPEC-reported output figures. Among OPEC members, Algeria produced an average of 1.007 million bpd, Congo contributed 300,000 bpd, and Libya generated 1.391 million bpd. The improvement in Nigeria's production occurs amid OPEC's reduced projection for global oil demand growth in 2026. The organization lowered its forecast by over 70%, from 1.4 million bpd to 400,000 bpd, due to weaker-than-expected demand growth throughout the year. This decision comes amid renewed concerns of drone and missile threats targeting Saudi Arabia, following attacks on Riyadh's King Khalid International Airport. The revised outlook provides a broader market context for Nigeria's enhanced production while it seeks to increase output within its OPEC production quota.",
  "summary": "Nigeria maintained compliance with its production quota set by the Organization of the Petroleum Exporting Countries (OPEC) for the fifth consecutive month in September, as crude oil output rose to 1.53 million barrels per day (bpd) from 1.50 million bpd in August. The post Nigeria’s oil output hits 1.53 million bpd, maintains OPEC quota for fifth month appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}