Nigeria's Oil Output Surges to Highest Level Since 2020, Exceeds OPEC Quota

Nigeria's crude oil production reached its highest level since April 2020 in June 2026, exceeding the country's OPEC quota by approximately 4.0%. The Nigerian Upstream Petroleum Regulatory Commission reported an average of 1.56 million barrels per day (mbpd), a 2.2% month-on-month increase from May.

According to the NUPRC, production peaked at 1.89 mbpd during the month, with total crude oil and condensate production rising to 1.735 mbpd. This increase points to improved upstream operational performance, driven by stable operations across producing assets, the absence of major pipeline outages, and more efficient crude evacuation.

The improvement in crude oil production is expected to have positive implications for the Nigerian economy, public finances, and the upstream oil sector. Higher production volumes should translate into stronger oil export earnings, increased federal revenues, improved fiscal balances, and higher foreign exchange inflows.