◂ Event Timeline

Nov 12, 2026REPORTAfrica

Nigeria Hits OPEC Oil Production Quota for Sixth Straight Month

Nigeria's crude output averaged 1.51 million bpd in October, at 101% of its 1.5 million bpd OPEC+ ceiling, according to regulator NUPRC data. This is the sixth consecutive month Nigeria has produced at its quota.

WHY IT MATTERS

Nigeria's steady quota compliance is a small addition to global supply and has little direct effect on feed commodity prices.

AFFECTSCrude Oil (Brent)◆

SOURCE
oilprice.comTsvetana ParaskovaNov 12, 2026

Price reaction & history

Crude Oil (Brent)◆neutral

After 41 past neutral report events, Crude Oil (Brent) moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% over 20.

Feb 25, 2020Where OPEC+ Oil Production Stands Now-7.6%
Nov 1, 2022OPEC Oil Production Steady Last Month After Group Pledged Symbolic Cut - Bloomberg+5.1%
Aug 10, 2017OPEC Boosts Oil-Demand Outlook While Its Production Rises - Bloomberg-4.0%
Jan 3, 2018OPEC Holds Production Steady as Compliance Exceeds Promised Cuts - Bloomberg+3.5%
Jan 8, 2026Survey Shows OPEC Held Supply Flat Last Month | Rigzone+11.8%

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 (Brent) BRENT · GP ▸

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