Nigeria’s crude oil manufacturing is projected to upward thrust to one.72 million barrels consistent with day (bpd) within the fourth quarter of 2026, with reasonable output anticipated to achieve 1.62 million bpd for the whole 12 months, in line with Dangote Staff.
The projection is contained within the crew’s H1 2026 Financial Document, which expects manufacturing to extend from about 1.55 million bpd in the second one quarter to one.70 million bpd within the 0.33 quarter, prior to emerging additional within the ultimate 3 months of the 12 months.
The document additionally initiatives Brent crude oil costs to reasonable about $90 consistent with barrel in 2026, with costs anticipated to ease to $85 consistent with barrel within the fourth quarter as geopolitical tensions de-escalate.
Dangote Staff initiatives upper oil manufacturing in H2
Consistent with the document, Nigeria’s crude manufacturing outlook issues to a steady build up in output via the second one part of the 12 months.
- “Personnel undertaking crude manufacturing to upward thrust additional, from about 1.55mbpd in the second one quarter to about 1.70mbpd within the 0.33 — a degree the July outturn has already validated — and 1.72mbpd within the fourth, for a full-year reasonable close to 1.62mbpd,” the document said.
The projection comes after Nigeria’s crude oil output remained above 1.5 million bpd for the 0.33 consecutive month in July 2026, regardless of a decline from June.
The projected build up will require manufacturing to construct at the positive aspects recorded within the first part and maintain upper output via the rest of the 12 months.
Brent crude projected to reasonable $90 in 2026
Dangote Staff additionally expects global oil costs to stay increased within the 0.33 quarter prior to easing in opposition to the top of the 12 months.
The document initiatives Brent crude to reasonable about $82 consistent with barrel in the second one quarter and with regards to $95 within the 0.33 quarter, prior to declining to round $85 within the fourth quarter.
- “On value, group of workers think Brent averages about $82/bbl in the second one quarter, with regards to $95/bbl within the 0.33 — a trail the quarter is monitoring, with the mid-August spike above $102/bbl giving technique to about $92/bbl by means of the beginning of September — and about $85/bbl within the fourth as de escalation holds, for a full-year reasonable close to $90/bbl,” the document said.
The outlook assumes that geopolitical tensions ease within the ultimate quarter, permitting crude costs to reasonable from their third-quarter ranges.
Nigeria objectives upper oil manufacturing
Nigeria has been operating to extend crude oil manufacturing and extend its hydrocarbon reserves as a part of efforts to spice up export income and govt earnings.
The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) put the rustic’s crude oil and condensate reserves at 37.01 billion barrels as of January 1, 2026, along herbal gasoline reserves of 215.19 trillion cubic ft.
The fee has additionally stated Nigeria stays on target to succeed in its goal of manufacturing 3 million barrels of crude oil per day by 2030.
One after the other, the Nigerian Nationwide Petroleum Corporate Restricted has defined plans to extend the rustic’s gasoline reserves from about 210 trillion cubic ft to roughly 600 trillion cubic ft.