OPEC

The September performance represented an increase of 30,000 barrels per day, or about two percent, from the 1.50mbpd recorded in August, according to OPEC’s latest Monthly Oil Market Report released on Tuesday.

The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) has kept oil production levels unchanged for November 2026, maintaining combined required output of 31.01 million barrels per day for seven participating countries.

Nigeria produced about 306.4 million barrels of crude oil and condensate between March and August 2026 as upstream output strengthened through the first half of the period before easing slightly in July and August, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

A statement issued by the Head of Media and Corporate Communications at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eniola Akinkuotu, said the August figure represented a 0.4 per cent increase from the previous month.

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.

Nigeria’s crude oil production remained above 1.5 million barrels per day for the third consecutive month in July despite a 50,000bpd decline from June. OPEC data showed Q2 output averaged 1.525 million bpd, up from 1.388 million bpd...

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