Tag: OPEC

In a notable stride for Africa’s largest oil producer, Nigeria achieved 99.2% compliance with its OPEC crude oil production quota in April 2026, averaging 1.49 million barrels per day (bpd). According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country produced an average of 1,488,540 barrels of crude oil daily, narrowly missing […]

Coronation Group’s latest outlook, which projects Nigeria’s crude oil production stabilising at 1.7 million to 1.8 million barrels per day (bpd) in 2026—well below the Federal Government’s ambitious 2.5 million bpd target set by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Coronation Group, a leading Nigerian financial services firm offering investment management, wealth advisory, insurance, […]

Global oil producers under the OPEC+ alliance have agreed to raise output slightly in December 2025, but then to pause further production increases during the first quarter of 2026. The decision—to add just 137,000 barrels per day (bpd) in December and then hold steady in January through March—is being viewed as a strategic move to […]