Oil output drops 5,000bpd in August amid recovery

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Nigeria’s crude oil output fell by 5,000 barrels per day in August 2026, according to figures submitted directly by the country to the Organisation of the Petroleum Exporting Countries and published in the organisation’s Monthly Oil Market Report for September 2026.

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According to the OPEC report, crude production averaged 1.5 million barrels per day in August, down from 1.505mbpd in July. Though the country met its OPEC quota in August, the modest decline marked the second consecutive monthly drop recorded in OPEC’s direct-communication series.

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On the direct-communication data, output stood at 1.555mbpd in June before falling to 1.505mbpd in July, a drop of 50,000 barrels per day, and then edged lower again to 1.500mbpd in August.

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The combined decline between June and August therefore amounted to 55,000 barrels per day. Since January 2026, crude production has fluctuated between roughly 1.45mbpd and 1.56mbpd.

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However, OPEC data showed that secondary sources presented a different picture. These independent estimates showed Nigerian production rising by 35,000bpd in August to 1.57mbpd, after a 46,000bpd drop the previous month from 1.58mbpd in June to 1.54mbpd in July.

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Overall crude production from the Declaration of Cooperation group rose by approximately 0.3mbpd in August to 38.05mbpd. The increase was driven largely by OPEC members, whose combined output climbed by 346,000bpd to 24.08mbpd, while non-OPEC DoC production edged lower by 49,000bpd.

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Iraq recorded the largest single gain, jumping by 664,000bpd to 3.38mbpd based on secondary sources and an even larger 845,000bpd rise based on direct figures. Kuwait, the UAE and Venezuela also posted increases. These gains more than offset declines in Iran of 399,000bpd, Russia of 160,000bpd and Saudi Arabia of 75,000bpd based on secondary sources.

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Nigeria’s 5,000bpd reduction, therefore, ran counter to the wider OPEC recovery in August, though the absolute volume involved is small relative to the group’s total.

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The September report provides the latest official snapshot of Nigerian production performance as the country continues efforts to stabilise and raise output amid ongoing operational and security challenges in the oil-producing regions.

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