Nigeria's Oil Production Hits 1.38mbpd in March 2026

In March 2026, Nigeria recorded an oil production of 1.38 million barrels per day (bpd), marking a 5.25% increase from February's output of 1.31 million bpd, according to OPEC's latest monthly oil market report released on Monday. Despite this modest recovery, Nigeria's production remains approximately 117,000 bpd below its OPEC quota of 1.5 million bpd.

Secondary sources estimate Nigeria's output slightly higher at 1.46 million bpd in March, compared to 1.44 million bpd in February. The report highlights ongoing structural challenges in Nigeria's oil sector, including infrastructure constraints and crude theft.

In comparison, Libya's production during the same period was reported at 1.30 million bpd. OPEC noted a significant decline in total crude output among member countries, averaging 35.06 million bpd in March, reflecting a 27.5% drop due to supply disruptions.

The Nigerian upstream petroleum regulatory commission reported a crude oil production of 1.84 million bpd in early April, while NNPC Ltd stated its output was 1.71 million bpd. Energy economist Kelvin Emmanuel emphasized the importance of maintaining production above the OPEC quota to maximize revenue benefits.