Nigeria's Crude Oil Production Rises to 1.70mbpd in May

Nigeria's crude oil production has shown a notable improvement, rising to 1.70 million barrels per day (mbpd) in May 2026, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This represents an increase of approximately 2.2% month-on-month compared to April's output of 1.66mbpd.

The improvement was largely driven by the absence of major facility maintenance activities, pipeline vandalism, and significant crude oil theft during the period. This contrasts with February, when total production declined by roughly 8.8% month-on-month to 1.48mbpd following the temporary shutdown of the Bonga facility for maintenance.

Sustained production levels around 1.70mbpd should continue to support crude export volumes, providing a positive boost to Nigeria's current account position and external reserves. However, despite the recent improvement in output, it remains unlikely that the authorities will achieve their target of raising average production to 1.84 mbpd this year.