Nigeria Tops OPEC Target as Oil Output Reaches 15-Month Peak

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has reported that the country's crude oil production surpassed its Organisation of the Petroleum Exporting Countries, OPEC, quota in May 2026. With an average daily production of 1,530,354 barrels of crude oil, Nigeria exceeded its 1.5 million barrels per day quota by 102 per cent. Including condensate production of 170,446 barrels per day, the total oil output reached 1,700,800 barrels per day, further solidifying the country's position as Africa's largest oil producer. According to the NUPRC, the improved production levels can be attributed to the stability of upstream operations and the absence of major disruptions across key oil facilities. The commission stated that 'Nigeria's oil production witnessed an upswing in May 2026, averaging 1,530,354 barrels of crude oil and 170,446 barrels of condensates per day, bringing the total combined production to 1,700,800 barrels per day and consolidating Nigeria's position as Africa's largest oil producer.' The average crude oil production recorded during the month of May represents 102 per cent of Nigeria's 1.5 million barrels per day production quota allocated by OPEC. The production performance remained robust throughout the month, with combined crude oil and condensate output ranging between 1.51 million barrels per day and 1.86 million barrels per day. This development highlights a steady upward trajectory in the country's oil output over the past few months, with crude production increasing by 2.77 per cent from the 1.48 million barrels per day recorded in April 2026. The NUPRC attributed the growth to the continued stability of upstream operations across the country and the absence of major pipeline breaches and facility shutdowns. 'The rise in production is attributable to sustained positive momentum as operations remained stable throughout the reporting period, with no significant pipeline or facility outages recorded,' the commission said. The increase in production may have a positive impact on Nigeria's fiscal outlook, as higher oil output is expected to support government revenues and foreign exchange earnings. Nigeria's major production streams, including the Bonny Terminal, Forcados Terminal, Qua Iboe, Escravos Oil Terminal, and Odudu, also known as the Amenam Blend, contributed significantly to the country's total oil output. The NUPRC's data showed that the Bonny Terminal emerged as the largest contributor, recording an output of 293,870 barrels per day, followed closely by the Forcados Terminal with 289,900 barrels per day. The Qua Iboe ranked third after producing 173,360 barrels per day, while the Escravos Oil Terminal contributed 135,470 barrels per day, and the Odudu completed the top five production streams with 63,250 barrels per day. The country's ability to maintain operational stability, attract fresh investment into upstream projects, and prevent a resurgence of disruptions across critical oil infrastructure will be crucial in sustaining production above the OPEC quota level.