OPEC+ output hike of 188,000 bpd leaves Nigeria production strategy unchanged

Seven members agreed to raise September supply, but Nigeria maintains its current output levels despite recent production gains.

By Handelsavisen Newsroom · Automated 2026-08-03 12:08 UTC · 1 min read

Seven OPEC+ members have agreed to increase their combined crude oil output by 188,000 barrels per day (bpd) starting in September 2026, while Nigeria will maintain its current production strategy.

The decision reflects a split approach within the alliance, with some producers seeking to capture market share while others, including Nigeria, hold steady on existing volumes.

Nigeria is currently positioning itself to double its crude oil output to 3 million bpd by 2030, driven by regulatory reforms and investment incentives.

The output increase by the seven members is aimed at addressing global supply dynamics, though the specific impact on Brent crude prices remains to be seen.

Nigeria’s decision to keep its production strategy unchanged comes after data showed its crude oil output increased in both May and June, according to OPEC figures and a Reuters survey.

This continuity suggests Nigeria is prioritizing stability over immediate volume expansion.

Nigeria is currently positioning itself to double its crude oil output to 3 million bpd by 2030, driven by regulatory reforms and investment incentives.