OPEC Report Reveals Nigeria's Continued Crude Shortfall

Nigeria's average crude oil output increased slightly to 1.401 million barrels per day in October 2025, as stated in the Organisation of...

Nigeria's average crude oil output increased slightly to 1.401 million barrels per day in October 2025, as stated in the Organisation of Petroleum Exporting Countries' Monthly Oil Market Report published on Wednesday.

The number shows a small rise from the 1.39 million barrels per day measured in September, yet it remains under the nation's OPEC production limit of approximately 1.5 million barrels per day. This also indicates the third straight month that Nigeria has not reached its set goal, with the previous instance occurring in July 2025.

A production shortfall is occurring while the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, prepares to submit a higher oil production quota request during a meeting with the Organisation of Petroleum Exporting Countries, which is scheduled for this month.

Last week, Lokpobiri revealed in an interview with the media team from the Nigerian Upstream Petroleum Regulatory Commission that the nation's current quota, set at approximately 1.5 million barrels per day, no longer accurately represents its actual production capability.

As per his statement, the upcoming OPEC gathering offers Nigeria a chance to present a compelling argument for increasing production to a minimum of two million barrels daily.

"The OPEC quota is reviewed regularly, and by November, during our attendance at the annual meeting, we will definitely be advocating for a higher quota for Nigeria. I think now is the best time for us to present a solid argument for Nigeria's quota to be increased to two million or more," the minister stated.

The PUNCH was unable to independently verify on Wednesday whether the planned meeting took place.

OPEC statistics indicate that Nigeria's average production was 1.444 million barrels per day during the third quarter, a decrease from 1.481 million barrels in the second quarter and 1.468 million barrels in the first quarter.

The data underscores the nation's ongoing challenge in maintaining oil output even with new governmental initiatives and additional exploration investments.

As per the OPEC report, global oil supply in October surpassed demand by 500,000 barrels daily, marking a reversal from the 400,000-barrel shortfall observed the previous month. The organization cited higher non-OPEC production, primarily driven by the United States, which accounted for over half of the 890,000-barrel increase in worldwide output.

The oil market is navigating conflicting indicators, with reduced global demand growth on one side and consistent production increases from non-OPEC countries on the other. These factors have led to fluctuating prices, remaining within a range of $82 to $86 per barrel in recent weeks.

As per OPEC statistics, Nigeria's crude oil production experienced a variable pattern from January to September 2025, indicating the nation's difficulty in maintaining output growth.

The output was 1.468 million barrels per day during the first quarter, increased marginally to 1.481 million barrels per day in the second quarter, and then decreased to 1.444 million barrels per day in the third quarter.

Monthly data show increased fluctuations, with production reaching 1.529 million barrels per day in April and then gradually dropping to 1.401 million barrels per day by September.

The inconsistent performance highlights ongoing operational and other issues within the upstream industry, even with renewed government initiatives aimed at increasing output and drawing in new investment.

Provided by SyndiGate Media Inc. (Syndigate.info).