Nigeria’s oil production climbed to nearly 307 million barrels between March and August 2026, signalling a notable recovery in the country’s upstream petroleum sector, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The latest figures put average combined crude oil and condensate production at approximately 1.67 million barrels per day during the six-month period, with output recording its strongest performance in June.
Production began at about 1.56 million barrels per day in March, equivalent to roughly 48.49 million barrels for the month. Output then increased steadily, reaching 1.66 million barrels per day in April and 1.70 million barrels per day in May. By June, production had climbed to a six-month high of 1.74 million barrels per day, translating to approximately 52.06 million barrels for the month.
However, the upward momentum eased slightly after June. Nigeria’s production fell to 1.67 million barrels per day in July, representing about 51.80 million barrels, before edging up to 1.68 million barrels per day in August, when the country produced approximately 52.01 million barrels. Altogether, the monthly figures show that Nigeria produced an estimated 306.99 million barrels of crude oil and condensate from March through August.
The NUPRC data further showed that crude oil contributed about 1.50 million barrels per day to the six-month average, while condensate accounted for approximately 180,000 barrels per day. The average crude production rate also aligned with Nigeria’s stated OPEC quota of 1.50 million barrels per day. If the combined average of 1.67 million barrels per day were sustained for a full year, annual production would exceed 600 million barrels.
The recovery comes as Nigeria continues efforts to strengthen oil output and address longstanding challenges, including crude oil theft, pipeline vandalism and operational disruptions. Higher production remains important to Nigeria’s economy and market outlook, given the role of crude oil in foreign exchange earnings and government revenue. The March-to-August figures therefore provide a closely watched indicator for investors, businesses and policymakers monitoring Market News Nigeria, although the decline from June’s peak shows that maintaining higher production levels remains an ongoing challenge.
source: punch