Nigeria is to keep its 1.5 million barrels per day oil production as the Organisation of Petroleum Exporting Countries (OPEC) has decided to maintain current crude output levels for member countries until March 2026. The oil producers group took the decision during the 40th OPEC and non-OPEC Ministerial Meeting held on Sunday, November 30, where …
Nigeria Retains 1.5m bpd Oil Quota as OPEC Maintains Status quo till March 2026
Nigeria is to keep its 1.5 million barrels per day oil production as the Organisation of Petroleum Exporting Countries (OPEC) has decided to maintain current crude output levels for member countries until March 2026.
The oil producers group took the decision during the 40th OPEC and non-OPEC Ministerial Meeting held on Sunday, November 30, where members agreed to retain overall production levels for countries participating in the Declaration of Cooperation (DoC).
Their decision came as market fears over a potential supply glut continue to persist.
OPEC+ stated that the pause was due to lower seasonal demand. This required member countries to adhere to a planned freeze in oil output growth “in January, February, and March 2026,” following a minor increase in December.
READ ALSO: Nigeria’s Failure to Meet OPEC Quota for Third Month Raises Concerns
The group said it had agreed to a mechanism to assess its members’ maximum production capacity without providing any details, adding that the mechanism would be “used as reference for the 2027 production baselines”.
The group said its joint ministerial monitoring committee will continue to evaluate market conditions, conformity levels, and output compliance, adding that the next ministerial meeting is set for June 7, 2026.
The decision to pause means Nigeria will continue with the current quota.
Nigeria’s Minister of Petroleum Resources, Heineken Lokpobiri, had said the country would formally request an increase in quota to two million barrels per day, asserting that the country now has the capacity to do so.
Nigeria’s crude oil production rose marginally to 1.401 million barrels per day in October 2025 from 1.39 million barrels per day recorded in September, but still falls below the country’s OPEC production quota.
However, NNPC Limited‘s monthly report indicated that crude oil and condensate production stood at 1.58 million barrels per day.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
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