Nigeria OPEC quota target was surpassed in May as crude oil production hit a 15-month high, boosting revenue and economic prospects

Nigeria surpassed its Organisation of the Petroleum Exporting Countries production quota in May 2026, recording its highest crude oil output in 15 months as improved operational stability and the absence of major disruptions boosted production across key oil facilities.

Also read: Nigeria misses OPEC target as oil output drops sharply

Data released by the Nigerian Upstream Petroleum Regulatory Commission showed that the country produced an average of 1,530,354 barrels of crude oil per day during the month, exceeding its OPEC allocation of 1.5 million barrels per day.

When condensate production of 170,446 barrels per day is included, total oil output rose to 1,700,800 barrels per day, reinforcing Nigeria’s position as Africa’s leading oil producer.

The figures were disclosed in a statement issued on Thursday by Eniola Akinkuotu.

According to the commission, the latest performance reflects sustained improvements in upstream operations and marks the strongest production level achieved in recent months.

“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 statement said.

The commission noted that the average crude oil production represented 102 per cent of the country’s approved OPEC quota.

Production remained stable throughout the month, with combined crude oil and condensate output ranging from a low of 1.51 million barrels per day to a peak of 1.86 million barrels per day.

Analysis of the figures showed that May’s performance was the highest combined output recorded since July 2025, when production reached 1,712,282 barrels per day.

In crude oil terms alone, excluding condensates, the 1.53 million barrels per day achieved in May was the strongest performance since January 2025, when production stood at 1.538 million barrels per day.

The latest Nigeria OPEC Quota achievement also reflects a steady upward trend in production over recent months.

Crude oil production rose by 2.77 per cent compared with the 1.48 million barrels per day recorded in April 2026.

Overall production increased from 1.48 million barrels per day in February to 1.54 million barrels per day in March, before climbing to 1.66 million barrels per day in April and 1.70 million barrels per day in May.

The commission attributed the growth to stronger operational efficiency and improved reliability across the oil and gas sector.

Among Nigeria’s major crude streams, the Bonny Terminal recorded the highest output at 293,870 barrels per day.

The Forcados Terminal followed with 289,900 barrels per day, while Qua Iboe contributed 173,360 barrels per day.

The Escravos Oil Terminal produced 135,470 barrels per day, while the Odudu stream, also known as the Amenam Blend, accounted for 63,250 barrels per day.

According to the regulator, the production increase was driven largely by uninterrupted operations and the successful completion of maintenance activities across major facilities.

“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 statement said.

It added that all previously scheduled turnaround maintenance programmes had been completed, contributing to stronger production efficiency and operational reliability.

The improved output is expected to strengthen Nigeria’s fiscal position by increasing government revenue and foreign exchange earnings at a time when authorities are pursuing economic growth and public finance reforms.

For years, Nigeria struggled to meet its OPEC production target due to crude oil theft, pipeline vandalism, ageing infrastructure and underinvestment in upstream assets.

However, ongoing efforts by the Federal Government, security agencies and industry operators to tackle oil theft and improve infrastructure integrity appear to be delivering measurable results.

Also read: OPEC output drops as NNPC suspends crude supply to Dangote refinery

Industry observers say sustaining production above the OPEC quota will require continued operational stability, increased investment in upstream projects and effective protection of critical oil infrastructure.