Business
March 18, 2026 by
The Nation
The Nigeria’s crude oil production reduced drastically to 88 per cent of the Organization of Petroleum Exporting Countries (OPEC) quota in February 2026 from about 98 per recorded in January 2026.
The crude oil quota was 1.5million barrels per day, however the country’s output in the month under review was 1.313mb/d.
Besides, Nigeria produced 170,259 barrels per day of condensate in February, totally 1.48mb/d.
This was contained in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Crude Oil and Condensate Production February 2026 report.
The report said: “Remarks on February Production: 1. Lowest and Peak Combined crude oil and Condensate were 1.41 million bopd and 1.56 million bopd respectively
“The average crude oil production represents 88per cent of OPEC quota (1.5 mbpd) –
“Daily average production was 1,483,954 barrels per day, comprising of both Crude oil (1,313,695 bopd) and condensate (170,259 bopd).”
The record was a sharp decline from the 1.62mb/d of crude oil and condensate produced in the previous month.
In January, Nigeria produced 1.45mb/d of crude oil and 116,373b/d of condensate.
The trunk around maintenance of some of the facilities accounted for the dip in production in February.