Nigeria's oil output slips to 1.69 million barrels a day in October but stays above its OPEC quota
The upstream regulator also says it has approved 145 new wells and 595 re-entries so far this year.
Key findings
- Crude oil and condensate output averaged 1,687,710 barrels a day in October, NUPRC data reported by Nairametrics and Leadership show.
- That is about 1.7% below September's 1,717,030 barrels a day in Dataminal's series, and below June's 1,735,400.
- Crude alone averaged 1.51 million barrels a day, about 101% of the 1.5 million OPEC quota, the sixth consecutive month above it.
- NUPRC says it has approved 145 new wells, 595 well re-entries and 39 field development plans this year, with the rig count at 100.
Nigeria's oil and condensate production averaged 1,687,710 barrels a day in October 2026, according to figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported by Nairametrics and Leadership. Daily output ranged from a high of 1.79 million barrels to a low of 1.60 million during the month.
Counting crude oil alone, without condensate, the country averaged 1.51 million barrels a day, about 101% of the 1.5 million barrels a day quota set by OPEC. Nairametrics noted that this was the sixth consecutive month Nigeria had met its quota. Forcados was the largest terminal at 318.49 thousand barrels a day, ahead of Bonny at 311.02 thousand.
A small step back from September
Dataminal's oil production series, built from NUPRC's monthly reports, puts September's combined crude and condensate output at 1,717,030 barrels a day, with crude at 1.53 million. October's total is about 1.7% lower. It is also below June's 1,735,400 barrels a day, the highest month of 2026 so far, but output has held well above the levels of late 2025.
Monthly average, barrels a day. October is not yet in Dataminal's series.
More approvals for new wells
Separately, NUPRC's chief executive, Oritsemeyiwa Eyesan, told the Nigerian Association of Petroleum Explorationists conference in Lagos that the commission had approved 145 new well-drilling operations, 595 well re-entries and 39 field development plans so far in 2026, Nairametrics and ThisDay reported. ThisDay said the rig count had risen to 100, with 46 rigs active. The regulator presented faster approvals as a way to cut the cost of projects left waiting.
Nairametrics also recalled that in October NUPRC identified more than 788,000 barrels a day of shut-in production across 63 operators, which it aims to bring back.
Why it matters
Oil still earns most of Nigeria's foreign exchange and a large share of the revenue shared through FAAC. Holding output above the OPEC quota for six months suggests the gains in pipeline security and uptime since mid-2026 are lasting, while the October dip shows the margin above the quota remains thin. The pace of new drilling approvals is the regulator's main lever for lifting output further.
What to watch
- OPEC's own October estimate for Nigeria, due in its monthly oil market report.
- Whether the drilling approvals and higher rig count show up in output in the first quarter of 2027.
- Progress on restoring shut-in production identified by NUPRC.
Methodology
October production, the daily range, the OPEC quota comparison and terminal figures are NUPRC's, as reported by Nairametrics and Leadership on 11 November 2026. Drilling approvals and the rig count are from NUPRC's presentation at the NAPE conference, as reported by Nairametrics and ThisDay. September and June output come from Dataminal's oil production dataset, built from NUPRC monthly reports. The 1.7% month-on-month change compares October's reported total with Dataminal's September total.
Sources
- 1Nigeria meets OPEC oil production quota for sixth straight month despite October decline
- 2Nigeria Produces 1.69mbpd of Crude, Condensate in October, Meets OPEC Quota for 6th Month
- 3NUPRC approves 595 well re-entries, 145 new drilling operations in 2026
- 4NUPRC Approves 595 Well Re-entries, 145 New Drilling Operations, Rig Count Hits 100
- 5Nigeria oil productionOn Dataminal: Nigeria Oil Production