Nigeria maintained compliance with its manufacturing quota set by the Organization of the Petroleum Exporting Countries (OPEC) for the fifth consecutive month in September, as crude oil output rose to 1.53 million barrels per day (bpd) from 1.50 million bpd in August.
This is in response to OPEC’s month-to-month oil market report launched on Tuesday, which confirmed a rise in Nigeria’s crude manufacturing through the month.
The newest figures observe enhancements in output through the third quarter of 2026, though manufacturing ranges have diversified throughout the 12 months.
Nigeria’s crude output rises in September
OPEC knowledge confirmed that Nigeria’s crude oil manufacturing averaged 1.512 million bpd within the third quarter of 2026, in contrast with 1.525 million bpd within the second quarter.
- Production averaged 1.388 million bpd within the first quarter, reflecting a stronger output degree within the subsequent quarters.
- Nigeria’s crude oil manufacturing has improved over the previous two years, rising from a median of 1.345 million barrels per day in 2024 to 1.432 million bpd in 2025.
- Output averaged 1.512 million bpd within the third quarter of 2026, whereas September manufacturing elevated to 1.530 million bpd from 1.500 million bpd in August.
The September improve marks an extra enchancment in Nigeria’s crude oil manufacturing, whereas the nation continues to keep up compliance with its OPEC quota.
Nigeria targets larger oil manufacturing
Nigeria’s broader oil manufacturing figures have additionally proven indicators of enchancment. In August, mixed crude oil and condensate manufacturing rose by 0.4% to roughly 1.678 million bpd, in response to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as previously reported by Nairametrics.
The Dangote Group has projected that Nigeria’s crude oil production could rise to 1.72 million bpd in 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 additional good points in manufacturing earlier than the top of the 12 months, though the forecast stays distinct from the precise output figures reported by OPEC.
Elsewhere amongst OPEC members, Algeria averaged 1.007 million bpd, Congo recorded 300,000 bpd, and Libya produced 1.391 million bpd, in response to the OPEC.
OPEC cuts world oil demand forecast
The enchancment in Nigeria’s manufacturing comes as OPEC has lowered its outlook for world oil demand development in 2026.
The cartel minimize its forecast by greater than 70%, from 1.4 million bpd to 400,000 bpd, reflecting weaker-than-expected demand development through the 12 months.
The resolution got here as Saudi Arabia faces renewed drone and missile threats following lethal assaults on Riyadh’s King Khalid International Airport.
The revised outlook supplies a wider market context for Nigeria’s manufacturing good points, because the nation seeks to extend output whereas remaining inside its OPEC manufacturing quota.
