Home / News / Nigeria’s Oil Production Slumps 6.3% in One Month, Drops to 1.627m Barrels Per Day

Nigeria’s Oil Production Slumps 6.3% in One Month, Drops to 1.627m Barrels Per Day

Nigeria’s crude oil output fell by 6.3 per cent in January 2026, averaging 1.627 million barrels per day (bpd), according to data published by the Organisation of Petroleum Exporting Countries, OPEC said.

OPEC regularly publishes production data for its member states and assessed producers, including Nigeria. These figures are used by international markets, government planners and energy analysts to track global supply trends and production performance.

Oil remains Nigeria’s main export commodity and a critical source of government revenue. Variations in production levels can influence foreign exchange earnings, fiscal planning and external balances, making monthly output data closely watched by stakeholders.

According to OPEC’s January 2026 Monthly Oil Market Report, Nigeria’s oil production totaled 1,627,000 bpd in January, down from 1,737,000 bpd in December 2025. This represents a 6.3 per cent decline compared with the previous month.

The report did not provide specific reasons for the decline but shows the comparative figures for the latest reporting period and the immediately preceding month.

The output figure reflects crude oil production as assessed by OPEC, which includes contributions from joint ventures and other Nigerian upstream operators where applicable.

A reduction in crude oil production as reported by OPEC could affect Nigeria’s export volumes and potentially influence government revenue projections tied to hydrocarbon exports.

Upstream production levels also factor into Nigeria’s quota sharing and compliance considerations within OPEC, although the organisation’s published data focuses on actual production rather than quota performance.

Changes in output levels may also have implications for Nigeria’s balance of trade, foreign exchange inflows from crude sales, and short-term planning by energy sector authorities.

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