Nigeria crude production beats OPEC quota, 15‑month high

Nigeria's crude oil production exceeded its OPEC quota in May 2026, reaching its highest level in 15 months, according to official data released on Thursday. The Nigerian Upstream Petroleum Regulatory Commission reported average daily production of 1,530,354 barrels of crude oil, surpassing the country's 1.5 million barrel per day quota by 2 percent. When combined with condensate output, total production climbed to 1,700,800 barrels per day, solidifying Nigeria's status as Africa's largest oil producer.

The commission attributed the increase to improved operational stability, the absence of major pipeline breaches or facility shutdowns, and the successful completion of scheduled maintenance activities. Production remained robust throughout the month, ranging between a low of 1.51 million and a peak of 1.86 million barrels per day. The May figures represent a 2.77 percent increase from April's output of 1.48 million barrels per day and continue a positive trend observed since February.

Leading production streams included Bonny Terminal, which contributed 293,870 barrels per day, followed by Forcayas Terminal at 289,900 barrels per day and Qua Iboe at 173,360 barrels per day. The...