Nigeria spared as seven OPEC+ producers raise output by 188,000 bpd
By Udeme Akpan, Energy Editor Nigeria will maintain its current crude oil production strategy after seven members of the OPEC+ alliance agreed to increase their combined oil output by 188,000 barrels per day (bpd) in September 2026, a decision aimed at preserving stability in the global oil market.
For Nigeria, which is targeting higher crude output to strengthen revenues and meet its 2026 budget assumptions, the latest decision offers room to pursue production growth while benefiting from OPEC+’s continued efforts to maintain a stable global oil market.
The committee, comprising Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela, reviewed developments in the international oil market and stressed the importance of continued cooperation under the Declaration of Cooperation (DoC), the framework through which OPEC and its allies coordinate production policies.
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