Nigeria’s crude oil production fell by 5,000 barrels per day (bpd) in August 2026, extending a two-month decline in output reported directly by the country to the Organisation of the Petroleum Exporting Countries (OPEC).
According to OPEC’s September 2026 Monthly Oil Market Report, Nigeria’s crude production averaged 1.50 million barrels per day (mbpd) in August, compared with 1.505 million bpd in July.
The latest decline followed a sharper 50,000bpd drop between June and July, when production fell from 1.555 million bpd to 1.505 million bpd based on direct communication figures submitted to OPEC.
This means Nigeria’s output declined by a combined 55,000bpd between June and August.
Despite the decline, Nigeria remained within its OPEC production quota in August. Output has fluctuated between about 1.45 million bpd and 1.56 million bpd since the beginning of the year, highlighting the difficulty of sustaining higher production levels.
However, OPEC’s secondary sources showed a different trend.
The independent estimates put Nigeria’s August production at 1.57 million bpd, up 35,000bpd from 1.54 million bpd in July. This followed a 46,000bpd decline in July from 1.58 million bpd in June.
The divergence between the two data series reflects differences in how Nigerian production is measured, with direct communication figures based on data supplied by the country while secondary sources rely on independent assessments.
Nigeria bucks wider OPEC recovery
Nigeria’s August decline came as crude production across the Declaration of Cooperation (DoC) group increased by about 300,000bpd to 38.05mbpd.
OPEC members accounted for most of the increase, with combined production rising by 346,000bpd to 24.08mbpd. Production from non-OPEC DoC countries, however, fell by 49,000bpd.
Iraq recorded the largest increase among producers, with secondary-source estimates showing its output rising by 664,000bpd to 3.38 million bpd. Its direct-communication figure showed an even larger increase of 845,000bpd.
Kuwait, the United Arab Emirates and Venezuela also recorded increases, offsetting declines in Iran, Russia and Saudi Arabia.
Based on secondary-source estimates, Iran’s production fell by 399,000bpd, Russia’s by 160,000bpd and Saudi Arabia’s by 75,000bpd.
Nigeria’s 5,000bpd decline was modest in absolute terms but moved against the broader increase in OPEC production during the month.
SOURCE: Businessday