Nigeria Meets OPEC Quota for Fourth Consecutive Month
Nigeria maintained compliance with its OPEC production quota for the fourth consecutive month in August 2026, producing an average of 1.5 million barrels of crude oil per day, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Including condensates, total output averaged 1.68 million barrels per day, a 0.4% increase from July. NUPRC said the modest rise reflected efforts to restore capacity, particularly after resolving operational challenges at the Erha field’s Single Buoy Mooring system.
Bonny Terminal led production streams with 320,000 barrels per day, followed by Forcados at 317,000. Qua Iboe averaged 171,000, Escravos 132,000, and offshore producer Bonga contributed 93,000 barrels daily.
NUPRC noted that August’s performance underscored the importance of timely interventions, asset reliability and collaboration among stakeholders to sustain growth. Production activities across most assets remained stable.
Despite meeting OPEC quotas, Nigeria’s output remains below the 1.84 million barrels per day target underpinning the 2026 federal budget. Analysts warn that curbing crude theft, resolving operational bottlenecks and boosting upstream investment are critical to closing the gap.
OPEC data showed Nigeria’s average crude production rose to 1.53 million barrels per day in Q2 2026, up from 1.39 million in Q1. Nigeria also outperformed peers Libya (1.39 million) and Algeria (995,000) in July.
Industry stakeholders say sustained compliance with OPEC quotas is encouraging, but aligning production with fiscal assumptions is essential to improving government revenues and stabilising the economy.