◂ Event Timeline

Nov 11, 2026REPORTGlobal

Nigeria's October crude output averages 1.68 million bpd, meeting OPEC quota for sixth month

Nigeria's October crude output averaged 1.68 million bpd, meeting its OPEC quota for the sixth consecutive month. The report was published by Reuters on November 11.

WHY IT MATTERS

Nigeria's compliance with its quota is a routine supply data point with little effect on global crude balances, so price impact is minimal.

AFFECTSCrude Oil (WTI)◆

SOURCE
in.marketscreener.comReutersNov 11, 2026

Price reaction & history

Crude Oil (WTI)◆neutral

After 56 past neutral report events, Crude Oil (WTI) moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% over 20.

Jan 3, 2024OPEC’s Crude Oil Output Steady in December Before New Supply Cuts - Bloomberg+2.6%
Feb 1, 2019EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020-2.1%
Aug 1, 2017Brent and WTI crude oil prices expected to average about $50 per barrel through 2018-1.6%
Jul 1, 2017Crude Inventory Draw Offers Sliver Of Hope For Oil Markets-3.5%
May 27, 2020North American crude oil prices are closely, but not perfectly, connected - U.S. Energy Information Administration (EIA)+6.6%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Crude Oil (WTI) WTI · GP ▸

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