Nigeria recorded common day by day crude oil and condensate production of 1,687,710 barrels per day in October 2026.
This is in accordance with information launched on Wednesday by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in an announcement signed by Eniola Akinkuotu, its Head of Media and Corporate Communications.
The fee’s figures additionally present that day by day production peaked at 1.79 million barrels per day (bpd), whereas the bottom output in the course of the month was 1.60 million bpd.
In crude oil phrases, excluding condensates, Nigeria averaged 1.51 million bpd in October, equal to about 101% of its 1.5 million bpd production quota set by the Organisation of the Petroleum Exporting Countries (OPEC).
Nigeria sustains six-month OPEC quota streak
The October figures mark the sixth consecutive month Nigeria has met its OPEC crude oil production quota, following common output of 1.53 million bpd in May, 1.55 million bpd in June, 1.51 million bpd in July, 1.50 million bpd in August and 1.53 million bpd in September.
The NUPRC attributed the latest production efficiency to improved operational stability, increased production uptime and extra environment friendly crude evacuation.
Forcados leads October oil production
A breakdown of common day by day crude oil and condensate production by terminals and streams reveals that Forcados recorded the very best output in October, adopted intently by Bonny.
- Forcados Terminal recorded a median of 318.49 thousand barrels per day.
- Bonny Terminal accounted for 311.02 thousand barrels per day.
- Qua Iboe recorded 173.97 thousand barrels per day.
- Escravos posted a median of 134.67 thousand barrels per day.
- Bonga recorded 106.65 thousand barrels per day.
The fee mentioned the figures replicate the efforts of operators and business stakeholders to enhance operational effectivity, preserve asset integrity and strengthen production reliability throughout Nigeria’s upstream petroleum sector.
Nigeria’s oil production outlook
The Dangote Group has projected that Nigeria’s crude oil production could rise to 1.72 million bpd within the fourth quarter of 2026, with common output anticipated to succeed in 1.62 million bpd for the complete 12 months.
The projection factors to the opportunity of increased production earlier than the top of the 12 months, though it stays a forecast reasonably than a reported production determine.
Meanwhile, OPEC has lowered its outlook for world oil demand development in 2026, chopping its forecast by greater than 70%, from 1.4 million bpd to 400,000 bpd.
The revised forecast reflects weaker-than-expected demand growth during the year.
