Nigeria Left Out as OPEC Raises Oil Quotas for Algeria, Saudi Arabia and Others in Latest Output Adjustment

Nigeria has once again missed out on benefiting from the latest oil production quota adjustments by the Organisation of Petroleum Exporting Countries (OPEC), as the group approved an additional increase of 188,000 barrels per day for selected member countries.

The decision, announced after a virtual meeting held on June 7, 2026, saw key producers including Algeria, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, and Oman receiving upward revisions to their production quotas. For example, Algeria’s output was adjusted by 6,000 barrels per day, while Saudi Arabia and Russia each received an increase of 62,000 barrels per day.

Despite the collective move to stabilise global oil markets, Nigeria was notably absent from the list of countries benefiting from the latest round of adjustments. This exclusion mirrors a similar decision in May 2026, when Nigeria was also left out of quota increases granted to other major producers.

According to OPEC’s statement, the adjustment forms part of a broader effort by the participating countries to maintain market stability and flexibility in response to evolving global oil demand. The group noted that the increases will take effect in July 2026 and may be revised depending on future market conditions.

OPEC further stated that member countries remain committed to full compliance with the Declaration of Cooperation and will continue monthly reviews of production levels and compensation plans for any overproduction since January 2024. The next meeting of the group is scheduled for July 5, 2026, as members continue to navigate volatility in the global energy market.

source: newtelegraph