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.
The decision was reached during a virtual meeting on Sunday involving Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, the countries implementing additional voluntary production cuts announced in April and November 2023.
Nigeria was not part of the meeting because it is not participating in the additional voluntary production adjustment arrangement, meaning the latest out...