Nigeria sustained its compliance with the Organisation of Petroleum Exporting Countries’ (OPEC) crude oil production quota for the sixth consecutive month in October.
In the period, the country produced an average of 1.51 million barrels per day of crude oil, excluding condensates, representing 101 percent of its OPEC-assigned quota of 1.5 million barrels per day.
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) show that Nigeria has consistently met the production target since May, when output averaged 1.53 million barrels per day, the first time in 10 months.
Production subsequently rose to 1.55 million barrels per day in June before declining to 1.51 million barrels per day in July and 1.50 million barrels per day in August.
Read also: Nigeria exceeds OPEC quota for 5th month as oil production hits 1.71m barrels in September
Output recovered to 1.53 million barrels per day in September before again easing to 1.51 million barrels per day in October.
However, when condensates are included, total crude oil and condensate production averaged 1.68 million barrels per day during the review period, with daily output ranging from a low of 1.60 million barrels to a peak of 1.79 million barrels.
According to the latest data, Nigeria has maintained oil production above its OPEC allocation for six straight months since May.
However, the marginal 1.7 percent month-on-month decline in output in the review period points to persistent challenges in sustaining output growth.
The NUPRC attributed the relatively stable production performance in recent months to improved operational stability, higher production uptime and more efficient crude evacuation.
According to the commission, the October performance reflects the commitment of operators and other industry stakeholders to improving operational efficiency, maintaining asset integrity and strengthening production reliability across the upstream petroleum sector.
A breakdown of production by terminal shows that Forcados recorded the highest average daily crude oil and condensate output of 318,490 barrels in October.
Bonny followed with 311,020 barrels per day, while Qua Iboe Terminal accounted for 173,970 barrels per day.
Escravos recorded an average of 134,670 barrels per day, while Bonga ranked fifth with 106,650 barrels per day.
Prior to its current winning streak, Nigeria had struggled to consistently meet its OPEC production allocation, largely due to crude oil theft, pipeline vandalism, ageing infrastructure and operational disruptions.
Sustaining the recent recovery will therefore remain important to improving government revenue, strengthening foreign exchange inflows and supporting the country’s fiscal position.
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Feyishola Jaiyesimi is a writer and storyteller. She currently writes for the energy desk at BusinessDay with a focus on renewable energy and environmental issues. She began her journalism career as an agricultural reporter and now covers the energy sector, including oil, gas, electricity, environment, and renewables. She has been selected for professional training by the US Consulate, Lagos. She is a 2025 Dataphyte Biodiversity Reporting Fellow. Feyishola holds a bachelor’s degree in Zoology and Environmental Biology from Ekiti State University.
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