Nigeria Exceeds 1.5 Million Bpd OPEC Quota, Hitting 15-Month Output High
Updated
Updated · Punch Newspapers · Jul 12
Nigeria Exceeds 1.5 Million Bpd OPEC Quota, Hitting 15-Month Output High
3 articles · Updated · Punch Newspapers · Jul 12
Summary
Nigeria pumped 1.53 million barrels of crude a day in May, or 102% of its 1.5 million-bpd OPEC quota, marking its strongest crude output in 15 months.
NUPRC linked the increase to tighter Niger Delta pipeline security that cut vandalism, oil theft and illegal bunkering; with condensates, total hydrocarbon production reached about 1.7 million bpd.
Higher output is cushioning pressure from weaker oil prices, with Brent hovering near $76 a barrel after a roughly 10% weekly drop tied to easing fears over Strait of Hormuz shipments.
Analysts said the security gains and Petroleum Industry Act reforms have improved conditions, but warned Nigeria still needs substantial domestic and foreign investment to sustain higher production.
Lawmakers and host-community groups backed a long-term renewal of Tantita Security Services' surveillance contract, arguing reliable pipeline flows are critical for exports, budgeting and investor confidence.
Is Nigeria's oil rebound, built on private security, sustainable amidst falling global prices?
With a fragile US-Iran truce, why do experts warn the global oil supply crisis is far from over?
Nigeria’s Oil Output Hits Six-Year High at 1.56 Million Barrels/Day: Drivers, Economic Impact, and OPEC Implications
Overview
In June 2026, Nigeria's crude oil output soared to a six-year high of 1.56 million barrels per day, surpassing its OPEC quota for the second month in a row. This achievement was driven by improved stability in the oil sector, with stable operations, no major pipeline outages, and enhanced pipeline reliability. Key regulatory reforms, including the introduction of an incorporated joint venture model, fostered a more efficient and commercially independent environment, especially at the Dangote Refinery. Together, these changes created a more predictable and stable landscape, enabling Nigeria to boost production and exceed expectations.