Nigeria’s crude oil production, excluding condensates, increased by 35,000 barrels per day (bpd) to 1.573 million bpd in August 2026, up from 1.537 million bpd recorded in July.
The latest data from the Organisation of the Petroleum Exporting Countries (OPEC) showed that the increase represents a 2.3 per cent month-on-month rise, placing Nigeria among OPEC members that recorded higher crude production during the month.
OPEC said in its latest monthly report, based on direct communication from member countries, that Nigeria’s August output was its highest monthly production level recorded in the data provided for 2026.
The figure also surpassed Nigeria’s average production of 1.552 million bpd in the second quarter of 2026, suggesting a gradual improvement in the country’s upstream output.
The rise comes as the Federal Government and oil producers intensify efforts to increase production through improved security, new upstream investments, fresh projects and the rehabilitation of existing oil assets.
Across OPEC, crude oil production rose by 346,000 bpd in August to 24.081 million bpd, compared with 23.735 million bpd in July.
Iraq recorded the biggest increase among OPEC members, with production rising by 664,000 bpd to 3.378 million bpd. Kuwait followed with an increase of 49,000 bpd to 1.894 million bpd, while the United Arab Emirates added 54,000 bpd to reach 3.835 million bpd.
Venezuela also recorded an increase, with production rising by 23,000 bpd to 1.145 million bpd.
However, production declined in some major oil-producing countries. Saudi Arabia’s output fell by 75,000 bpd to 7.276 million bpd, while Algeria and Libya recorded declines of 8,000 bpd and 9,000 bpd respectively, bringing their output to 999,000 bpd and 1.355 million bpd.
Iran recorded the largest decline, with its production falling by 399,000 bpd to 2.086 million bpd.
Outside OPEC, total production from the wider OPEC+ group, which includes OPEC members and participating non-OPEC producers under the Declaration of Cooperation (DoC), increased by 297,000 bpd to 38.055 million bpd in August.
Within the non-OPEC DoC group, Kazakhstan increased its production by 159,000 bpd to 1.807 million bpd, while Russia reduced its output by 160,000 bpd to 8.718 million bpd.
For Nigeria, the increase in crude production could provide some support for government revenue and foreign exchange earnings, given the importance of oil exports to the country’s economy.
Nigeria has set a target of increasing crude oil production towards three million bpd by 2030, making sustained growth in output important to achieving the goal.
The country, however, continues to face challenges including ageing oil fields, infrastructure limitations, crude oil theft, funding constraints and the need to attract fresh investment into the upstream sector.
The August increase therefore represents progress, but sustaining the growth will be crucial if Nigeria is to narrow the gap between its current production level and its ambitious 2030 target.