Nigeria’s crude oil production hits 74-month high, exceeds OPEC quota

By Onu Okorie

Nigeria’s crude oil production rose to its highest level in more than six years in June 2026, as the country surpassed its production quota set by the Organisation of the Petroleum Exporting Countries (OPEC) for the fourth consecutive month of sustained growth.

Latest industry data showed that Nigeria produced an average of 1,735,398 barrels of crude oil and condensate per day during the month, comprising 1.56 million barrels per day (mbpd) of crude oil and about 180,000 barrels per day of condensates.

The crude oil output alone exceeded Nigeria’s OPEC production quota of 1.5 mbpd by four per cent, representing 104 per cent compliance with the target.

The June crude oil production of 1.56 mbpd is the country’s highest monthly crude output since April 2020, marking a 74-month high and reinforcing signs of a sustained recovery in the upstream petroleum sector.

The figures also showed that combined crude oil and condensate production peaked at 1.89 mbpd during the month, underscoring Nigeria’s potential to achieve the long-sought 2 million barrels per day production milestone in the near future. Production, however, dipped to a low of 1.57 mbpd on some days during the review period.

The latest performance extended Nigeria’s steady production growth recorded over the past five months. Combined production rose 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 a 2.2 per cent month-on-month increase.

Industry data attributed the improved performance largely to stable production operations across major producing assets and the absence of significant pipeline outages, which enhanced production uptime and improved crude evacuation efficiency.

Although a few oil assets experienced short-term operational shutdowns, the disruptions had only minimal impact on national output. Scheduled turnaround maintenance activities were also completed without materially affecting production levels.

According to the report, the sustained increase reflects the commitment of operators and other industry stakeholders to improving operational efficiency, maintaining asset integrity and enhancing production reliability across Nigeria’s upstream oil sector.

A breakdown of production by export terminals showed that Bonny Terminal remained the country’s highest-producing terminal, recording an average of 318,280 barrels per day in June, up from 293,880 barrels per day in May.

Forcados Terminal followed closely with an average daily production of 306,360 barrels, compared with 289,900 barrels in the preceding month.

Qua Iboe Terminal recorded average production of 164,730 barrels per day, down from 173,360 barrels per day in May, making it the only major terminal among the top five to post a decline during the period.

Escravos Oil Terminal increased production to 138,030 barrels per day from 135,470 barrels per day in May, while Bonga Terminal retained its position as the fifth-largest producer with average daily output of 103,660 barrels, slightly higher than the 102,540 barrels recorded in the previous month.

The sustained improvement is expected to bolster government revenue, strengthen foreign exchange earnings and reinforce confidence in Nigeria’s efforts to restore oil production through improved security, infrastructure reliability and operational efficiency.