Nigeria Meets OPEC Quota for Fourth Straight Month, Output Still Lags Budget Target

Nigeria has maintained its compliance with OPEC production quota for the fourth consecutive month in August 2026, producing an average of 1,677,777 barrels of crude oil and condensates per day.

This represents a modest increase of 0.4% compared to July's production level, with an average crude oil output of 1,500,190 barrels per day excluding condensates.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) attributed the slight improvement in output primarily to the resolution of operational challenges associated with the Single Buoy Mooring (SBM) system at the Erha field.

While Nigeria has consistently met its OPEC quota, production remains below the assumptions underpinning the Federal Government's 2026 budget, which is based on an oil production target of 1.84 million barrels per day, including condensates.