African Economy Inc.
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
African Economy Inc.
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
Top News
South Africa Secures $405 Million in New Development Bank Loans for Health and Water Projects
Dangote Family Office Set to Expand Operations in 2027 as Dynasty Planning Accelerates
Energean in Talks to Buy BP’s Egyptian Gas Assets in Deal Worth About $1 Billion
Kenya Positions Mombasa as Oil Export Hub Under 25-Year Gulf Energy Deal
South Africa Targets First Sovereign Green Bond as Climate Financing Needs Reach $228 billion
FTSE Russell to Reclassify Nigeria as Frontier Market Effective September 21
Morocco Transforms National Ports Agency Into State-Owned Ports du Maroc SA
MTN Gets NCC Conditional Approval for $2.2 Billion IHS Towers Acquisition
Botswana Central Bank Holds Policy Rate as Inflation Stays Above Target Range
Morocco’s OCP and CHS Plan $450 Million US Phosphate Fertiliser Plant in Louisiana
Rwanda Raises $190 Million in World Bank-Backed Loan to Diversify Debt Financing
Rwanda’s Central Bank Raises Key Interest Rate to 8.75% as Inflation Accelerates
Zambia Inflation Falls to 6.2% in August, Lowest Level Since February 2018
Egypt’s Chemical and Fertilizer Exports Rise 25% to $7.07 Billion in H1 2026
South Africa’s 2026 Maize Harvest Forecast Rises to 17.4 Million Tonnes
SUBSCRIBE
African Economy Inc.
Subscribe
African Economy Inc.
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
Copyright 2026 - All Right Reserved
Home » Nigeria Crude Oil Production Rises to 1.56 Million bpd, Exceeds OPEC Quota in June 2026
Energy

Nigeria Crude Oil Production Rises to 1.56 Million bpd, Exceeds OPEC Quota in June 2026

by Emmanuel Ebube July 13, 2026
written by Emmanuel Ebube July 13, 2026
FacebookTwitterLinkedinEmail
57

LAGOS, July 13 – Nigeria’s crude oil production rose to an average of 1.56 million barrels per day (bpd) in June 2026, the country’s highest monthly crude output since April 2020, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

In a statement published on its official X account and reviewed by African Economy Inc., the regulator said Nigeria exceeded its 1.5 million bpd crude oil production quota set by the Organization of the Petroleum Exporting Countries (OPEC), achieving 104% of its allocated target during the month.

The NUPRC reported that total crude oil and condensate production averaged 1,735,398 barrels per day in June, representing the fourth consecutive month of production growth. The total comprised 1.56 million bpd of crude oil and approximately 180,000 bpd of condensates.

According to the commission, “Nigeria meets 104% of OPEC quota as production soars. Crude oil production rises to a 74-month high.” It added that “Nigeria’s crude oil and condensate production soared to an average of 1,735,398 barrels per day in the month of June 2026, representing positive growth for a fourth consecutive month.”

You Might Be Interested In
  • Trafigura Signs $1 Billion Oil Prepayment Deal with Gabon in Fresh Africa Financing Push

The regulator further noted that “in strict crude oil terms (excluding condensates), the 1.56 million daily average production Nigeria witnessed in June is the highest that Africa’s biggest oil producer has recorded since April 2020, thus representing a 74-month high.”

Production remained relatively strong throughout the month. The NUPRC said combined crude oil and condensate output reached a peak of 1.89 million barrels per day, while the lowest daily production recorded was 1.57 million barrels per day, indicating that Nigeria is moving closer to restoring production levels of 2 million barrels per day.

The latest production figures represent a significant milestone for Nigeria’s upstream oil sector, which has faced years of challenges including pipeline vandalism, crude theft, underinvestment and operational disruptions. Recent government efforts to improve security around oil infrastructure, encourage upstream investment and increase operational efficiency have contributed to the gradual recovery in output.

Sustained production above Nigeria’s OPEC quota could strengthen the country’s export earnings, improve government revenues and support broader fiscal stability at a time when authorities are seeking to increase foreign exchange inflows and boost economic growth.

Read Next

  • Africa’s New Credit Rating Agency: What Investors Need to Know Ahead of Its October Launch

    August 26, 2026
  • Algeria Launches 2026 Oil and Gas Licensing Round to Attract Investment

    April 20, 2026
  • Konkola Copper Mines to Build $317 Million Coal-Fired Power Plant in Zambia

    June 17, 2026
  • Morocco’s Diaspora Remittances Rise to $5.36 Billion in First Five Months of 2026

    July 3, 2026
  • IFC, Access Bank Sign $500 Million Framework to Expand Local Currency Financing Across Africa

    May 15, 2026

Newsletter

Subscribe to our newsletter for trusted insights on Africa’s economies, markets, and business.

African Economy Inc. Logo

About Us

We are a business and economic intelligence platform delivering in-depth reporting, analysis, and insights on markets, companies and economic developments across Africa.

Our Company

  • AEI Intelligence
  • About
  • Editorial Standard
  • Partnerships
  • Advertise With Us
  • Careers
  • Ownership

News

  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech

Useful Links

  • Privacy Policy
  • Terms of Use
  • Closed Captioning Policy
  • Accessibility Statement
  • Personal Information
  • Data Tracking
  • Register New Account

Subscribe Newsletter

Subscribe to our newsletter for trusted insights on Africa’s economies, markets, and business.

©2026 Majons Media Inc. All Rights Reserved.

Facebook Twitter Instagram Linkedin
African Economy Inc.
  • Economy
  • Business
  • Markets
  • Banking & Finance
  • Energy
  • Tech
  • Policy