Nigeria’s Oil Output Hits Six-Year Peak, Exceeds OPEC Quota Again
Recent data from the Nigerian Upstream Petroleum Regulatory Commission show crude and condensate output climbed to 1.735 million barrels per day in June 2026. This marks the highest daily production since April 2020 and exceeds Nigeria’s OPEC quota of 1.5 mbpd for the fourth month running. Production rose by 2.2% from May’s 1.700 mbpd, continuing a steady climb from February’s 1.483 mbpd. The regulator attributes the growth to better operational stability, efficient crude evacuation and timely maintenance of key facilities. Bonny and Forcados terminals led the gains with output of 318,280 and 306,360 barrels per day respectively. Other terminals, including Qua Iboe and Escravos, also showed improvements or stable performance. The sustained rise in oil production is expected to boost export earnings, strengthen foreign exchange inflows and raise government revenues. Recent industry reforms and enhanced security around assets have supported this recovery.
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