Nigeria’s National Upstream Regulatory Commission (NUPRC) has stated that the country is on course to reach a crude oil production target of 3 million barrels per day by 2030.
The projection signals a significant expansion in West Africa’s largest oil producer, aiming to reverse years of output declines driven by theft, sabotage, and underinvestment.
The move to 3 million bpd would represent a substantial increase in global supply, potentially altering the balance of power within OPEC+ and affecting global benchmark prices.
The regulator’s outlook comes as Nigeria’s crude output has recently climbed to approximately 1.7 million barrels per day, marking a 15-month high.
This recent surge has pushed the nation’s production above its assigned OPEC quota, suggesting that security improvements and operational efficiencies are beginning to take hold.
The move to 3 million bpd would represent a substantial increase in global supply, potentially altering the balance of power within OPEC+ and affecting global benchmark prices.
Handelsavisen notes that while the trajectory is positive, the gap between current output and the 2030 target remains wide.