Nigeria meets 102% of OPEC Quota as crude oil production hit 1.7mn bpd in May

In May 2026, Nigeria achieved a crude oil production level of 1.7 million barrels per day (bpd), surpassing its OPEC quota by 102%. The total volume of oil produced during this period averaged 1,530,354 barrels, indicating a significant increase in output. This performance reflects Nigeria's ongoing efforts to enhance its oil production capabilities and meet international demand. The rise in production is expected to have implications for the country's economy and its standing within the Organization of the Petroleum Exporting Countries.

Read More