During October 2026, Nigeria recorded an average daily output of 1,687,710 barrels of crude oil and condensate.
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also shows that single day production hit a peak of 1.79 million barrels while the lowest for the month under review stood at 1.60 million bopd.
In strict crude oil terms (excluding condensate), Nigeria produced an average of 1.51mobpd in October. This constitutes 101% of the 1.5mobpd set by OPEC.
A statement by NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, said the crude oil data (excluding condensate) shows that Nigeria has for six consecutive months met its assigned OPEC quota, producing 1.53mobpd in May; 1.55mobpd in June; 1.51mobpd in July; 1.5mobpd in August, 1.53mobpd in September and 1.51mobpd in October.
On a month of month basis, however, production dropped by 1.7%.
The NUPRC attributes the stable performance in recent months to an enhanced operational stability, supported improved production uptime and crude evacuation efficiency.
“The sustained growth recorded in October reflects the continued commitment of operators and industry stakeholders towards improving operational efficiency, maintaining asset integrity, and enhancing production reliability across the Nigerian upstream petroleum sector,” he said.
A breakdown of the daily average crude oil and condensate production by terminals/streams during the review month showed that Forcados Terminal accounted for 318.49kbpd while Bonny comes second with 311.02kbpd.
Qua Iboe Terminal recorded an average production of 173.97kbpd of crude oil and condensates while Escravos Oil Terminal posted a daily average of 134.67kbpd.
Bonga ranked as the fifth highest producing terminal, recording an average of 106.65kbpd of crude oil and condensate.
What You Should Know
Nigeria has successfully met its oil production targets set by OPEC for six months in a row. By producing 1.51 million barrels of crude oil per day in October, the country reached 101% of its assigned limit, showing a steady recovery in the petroleum sector.
- Economic Stability: Consistent oil production helps the government earn more foreign exchange, which is vital for stabilizing the Naira and funding national infrastructure projects.
- Improved Security: The steady performance suggests that security and technical operations at major terminals like Forcados and Bonny are improving, making the country a more reliable global energy supplier.
- Potential Concerns: Despite hitting the target, total production actually slipped by 1.7% compared to the previous month, indicating that maintaining these high levels requires constant effort and investment in the upstream sector.
