Crude Oil Production in Nigeria decreased to 1780 BBL/D/1K in October from 1796 BBL/D/1K in September of 2019.

Crude Oil Production in Nigeria averaged 1879.94 BBL/D/1K from 1973 until 2019, reaching an all time high of 2475 BBL/D/1K in November of 2005 and a record low of 675 BBL/D/1K in February of 1983. This page provides the latest reported value for - Nigeria Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Organization of the Petroleum Exporting Countries

Crude Oil Production in Nigeria is expected to be 1650.00 BBL/D/1K by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Crude Oil Production in Nigeria to stand at 1700.00 in 12 months time. In the long-term, the Nigeria Crude Oil Production is projected to trend around 1900.00 BBL/D/1K in 2020, according to our econometric models.

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Nigeria Crude Oil Production

Actual Previous Highest Lowest Dates Unit Frequency
1780.00 1796.00 2475.00 675.00 1973 - 2019 BBL/D/1K Monthly
NSA
Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 1079173.44 133748.95 2177553.08 -622103.84 NGN Millions [+]
Current Account -2795.83 -2858.88 10383.67 -5695.27 USD Million [+]
Current Account to GDP 2.30 2.80 32.80 -18.70 percent [+]
Imports 1139813.10 1356107.90 2209385.78 167.88 NGN Millions [+]
Exports 2218986.50 1489856.90 2648881.76 322.93 NGN Millions [+]
Terms of Trade 101.00 102.60 160.25 49.48 points [+]
Foreign Direct Investment 909.54 1150.51 3084.90 314.44 USD Million [+]
Capital Flows 11354.43 -3297.03 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.46 21.46 21.50 21.37 Tonnes [+]
Crude Oil Production 1780.00 1796.00 2475.00 675.00 BBL/D/1K [+]
External Debt 27162.63 25609.63 27162.63 3627.50 USD Million [+]
Terrorism Index 8.60 8.66 9.31 3.86 [+]
Remittances 5783.00 5916.57 6270.24 3836.61 USD Million [+]