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Nigeria’s crude oil production fell by 5,000 barrels per day to 1.50 million bpd in August, according to direct figures submitted to OPEC.
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The decline marked the second consecutive monthly drop, taking output 55,000bpd below the 1.555mbpd recorded in June.
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OPEC’s secondary sources, however, estimated Nigerian production at 1.57mbpd in August, pointing to a 35,000bpd recovery during the month.
September 11, (THEWILL) – Nigeria’s crude oil output fell by 5,000 barrels per day in August 2026, according to production figures submitted directly by the country to the Organisation of the Petroleum Exporting Countries (OPEC).
The figures, contained in OPEC’s September 2026 Monthly Oil Market Report, showed that Nigeria’s crude production averaged 1.50 million barrels per day (mbpd) in August, compared with 1.505mbpd in July.
The latest decline followed a sharper 50,000bpd drop between June and July, when production fell from 1.555mbpd to 1.505mbpd.
This means Nigeria’s output declined by a combined 55,000bpd between June and August, despite efforts by the government and industry operators to raise and stabilise production.
OPEC sources show a different output picture
While Nigeria’s direct figures showed another decline, OPEC’s secondary sources presented a more positive picture of production in August.
The secondary estimates put Nigeria’s crude output at 1.57mbpd in August, up by 35,000bpd from 1.54mbpd in July.
The secondary-source figure also represented a recovery from the 46,000bpd decline recorded between June and July.
The difference between the two sets of figures highlights the continuing variation in estimates of Nigeria’s crude production performance.
Nigeria’s direct-communication data have placed monthly production between about 1.45mbpd and 1.56mbpd since the beginning of 2026, reflecting the fluctuations in output recorded during the year.
Despite the decline in the direct figures, Nigeria remained within its OPEC production quota in August.
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Nigeria’s marginal production decline also contrasted with the broader recovery recorded across countries participating in the OPEC-led Declaration of Cooperation.
According to the report, combined crude production from the group increased by about 300,000bpd in August to 38.05mbpd.
OPEC members accounted for most of the increase, with their combined output rising by 346,000bpd to 24.08mbpd. Non-OPEC Declaration of Cooperation producers, however, recorded a 49,000bpd decline.
Iraq recorded the largest increase among producers, with secondary sources putting its output gain at 664,000bpd to 3.38mbpd. Kuwait, the United Arab Emirates and Venezuela also recorded increases.
These gains more than offset production declines in Iran, Russia and Saudi Arabia, whose output fell by 399,000bpd, 160,000bpd and 75,000bpd respectively, based on secondary-source estimates.
Nigeria’s 5,000bpd decline was therefore relatively small compared with movements across the wider group.
The latest figures come as Nigeria continues efforts to increase crude production through investments in upstream projects, improved security and measures aimed at reducing production losses.
Higher and more stable oil output remains critical to government revenues and foreign exchange earnings, particularly as crude exports continue to provide a major source of Nigeria’s external receipts.
The contrasting OPEC estimates, however, show that Nigeria’s production recovery remains uneven, with the latest direct figures pointing to another modest decline in August.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
