Oil production rises to highest level in 74 months as Nigeria hits OPEC quota

Nigeria’s crude oil and condensate production rose to an average of 1,735,398 barrels per day in June 2026, representing positive growth for the fourth consecutive month.

According to Head of Corporate Media and Communications, Eniola Akinkuotu, crude oil production reached 1.56 mbpd while condensates were produced at 0.18 mbpd in the month under review. This means that Nigeria has achieved 104% of the crude oil production quota of 1.5 mbpd set by the Organization of the Petroleum Exporting Countries (OPEC).

In strict crude oil terms (excluding condensates), the average daily production of 1.56 million that Nigeria witnessed in June is the highest that Africa’s largest oil producer has recorded since April 2020, thus representing a 74-month high.

In June, combined crude oil and condensate production peaked at 1.89 mbpd, reflecting Nigeria’s potential to reach 2 mbpd in the near term. However, the lowest production was 1.57 Mbps for the period under review.

Statistics show that Nigeria has maintained an upward trajectory, rising from 1,483 mbpd in February to 1,546 mbpd in March, 1,663 mbpd in April, 1,700 mbpd in May and 1,735 mbpd in June, representing 2.2% month-on-month growth.

The performance improvement was primarily driven by stable production operations across most manufacturing assets and the absence of major pipeline disruptions during the review period. This increased operational stability supported improved production uptime and crude oil evacuation efficiency.

While a limited number of assets experienced short-term operational shutdowns, the overall impact on domestic production was minimal. Additionally, scheduled maintenance activities were managed effectively and completed without significant disruption to production operations.

The sustained growth recorded in June reflects the continued commitment of industry operators and stakeholders towards improving operational efficiency, maintaining asset integrity and improving production reliability in Nigeria’s upstream oil sector.

A breakdown of average daily crude oil and condensate production by terminals/streams during the month under review shows that Bonny Terminal accounted for 318.28 kbpd, up from 293.88 kbpd recorded in May 2026, while Forcados Terminal followed with 306.36 kbpd, up from 289.90 kbpd in May 2026.

The Qua Iboe Terminal recorded an average production of 164.73 kbpd of crude oil and condensates, down from 173.36 kbpd in May 2026, while Escravos Oil Terminal recorded a daily average of 138.03 kbpd, up from 135.47 kbpd recorded in May 2026.

Bonga ranked as the fifth most productive terminal, averaging 103.66 kbpd of crude oil, compared to 102.54 kbpd delivered in May 2026.