The Monthly Oil Market Report (MOMR) by the Organisation of Petroleum Exporting Countries (OPEC), released on Thursday shows that Nigeria’s crude oil production climbed marginally to 1.436 million barrels per day (bpd) in November, up from 1.401 million bpd in October.
The report shows that despite the marginal increase, Nigeria fell short of meeting its OPEC-assigned quota for the fourth consecutive month, the last time it met its target being July 2025.
According to the OPEC data, Nigeria averaged 1.444 million bpd in the third quarter (Q3) of 2025, representing a decline from 1.481 million bpd in Q2 and 1.468 million bpd in Q1.
The figures highlight the country’s ongoing struggle to sustain production recovery despite new investments and government interventions in the upstream sector.
OPEC and its allies will need to produce an average of 43 million barrels a day next year to balance supply and demand, roughly in line with the amount pumped last month.
This runs counter to prevailing industry expectations for a supply excess in 2026.
Key OPEC+ nations led by Saudi Arabia acknowledged the fragile backdrop last month by agreeing to pause further output increases during the first quarter after rapidly ramping up production earlier this year
