{"id":15111,"date":"2026-11-11T14:47:05","date_gmt":"2026-11-11T14:47:05","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/11\/nigerias-crude-oil-production-dips-to-1-68mbpd-in-october-businessday-ng\/"},"modified":"2026-11-11T14:47:05","modified_gmt":"2026-11-11T14:47:05","slug":"nigerias-crude-oil-production-dips-to-1-68mbpd-in-october-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/11\/nigerias-crude-oil-production-dips-to-1-68mbpd-in-october-businessday-ng\/","title":{"rendered":"Nigeria’s crude oil production dips to 1.68mbpd in October – Businessday NG"},"content":{"rendered":"

\u2026production meets OPEC quota for 6th consecutive month<\/strong><\/em>\n<\/p>\n

Nigeria\u2019s daily average of crude oil and condensate production dipped slightly to 1.68 million barrels per day in the month of October 2026, dropping from 1.71 mbpd recorded in September.\n<\/p>\n

According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), 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.\n<\/p>\n

The report showed that in strict crude oil terms (excluding condensate), Nigeria produced an average of 1.51 million bpd in October. This constitutes 101 per cent of the 1.5mobpd set by OPEC.\n<\/p>\n

\u201cThe 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; 1.53 mobpd in September and 1.51mobpd in October.<\/p>\n

Read also:\u00a0Nigeria\u2019s economic recovery faces fresh test from rising energy costs, expensive financing \u2013 S&P<\/a>\n<\/p>\n

On a month-on-month basis, however, production dipped by 1.7 per cent, the commission stated in its monthly production statistics report.\n<\/p>\n

The NUPRC attributes the stable performance in recent months to an enhanced operational stability, supported improved production uptime and crude evacuation efficiency.\n<\/p>\n

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.\n<\/p>\n

A breakdown of the daily average crude oil and condensate production by terminals\/streams during the review month shows that Forcados Terminal accounted for 318.49 kbpd, while Bonny came second with 311.02kbpd.<\/p>\n

Qua Iboe Terminal recorded an average production of 173.97kbpd of crude oil and condensate, while Escravos Oil Terminal posted a daily average of 134.67kbpd.\n<\/p>\n

Bonga ranked as the fifth-highest-producing terminal, recording an average of 106.65kbpd of crude oil and condensate.<\/p>\n

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Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

\u2026production meets OPEC quota for 6th consecutive month Nigeria\u2019s daily average of crude oil and condensate production dipped slightly to 1.68 million barrels per day in the month of October… <\/p>\n","protected":false},"author":1,"featured_media":15112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/15111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=15111"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/15111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/15112"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=15111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=15111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=15111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}