Nigeria's crude output dropped 5,000 bpd to 1.50 million barrels in August 2026
Direct reports confirm a second consecutive month of decline for Nigeria's oil production, though independent estimates show conflicting data.
Nigeria reported an August 2026 crude oil production volume of 1.50 million barrels per day, marking a fall of 5,000 barrels per day from July figures. This update came directly from the country to the Organisation of the Petroleum Exporting Countries (OPEC). The decline represents the second month in a row where output fell, following a previous drop of 50,000 barrels between June and July. Consequently, total output declined by 55,000 barrels per day over the three-month period from June through August. Despite this downward trend, Nigeria maintained its production quota set by OPEC in August. Production levels have varied throughout the year, oscillating between approximately 1.45 million and 1.56 million barrels per day. However, secondary data sources presented a divergent picture. Independent estimates placed August's production at 1.57 million barrels per day, indicating an increase of 35,000 barrels from the previous month. This independent figure contradicts the direct report regarding the 1.50 million barrel volume. The discrepancy suggests varying methodologies were used to measure output, with official figures relying on national submissions while secondary data utilized independent calculations.