Crude Oil Production in Nigeria increased to 1424 BBL/D/1K in February from 1361 BBL/D/1K in January of 2021. source: Organization of the Petroleum Exporting Countries

Crude Oil Production in Nigeria averaged 1869.14 BBL/D/1K from 1973 until 2021, 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. Nigeria Crude Oil Production - values, historical data and charts - was last updated on April of 2021.

Crude Oil Production in Nigeria is expected to be 1780.00 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 1900.00 in 12 months time. In the long-term, the Nigeria Crude Oil Production is projected to trend around 1850.00 BBL/D/1K in 2022, according to our econometric models.

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Nigeria Crude Oil Production

Actual Previous Highest Lowest Dates Unit Frequency
1424.00 1361.00 2475.00 675.00 1973 - 2021 BBL/D/1K Monthly
NSA

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -588676.84 -1372173.74 2177553.08 -1372173.74 NGN Millions [+]
Current Account -3337.91 -3232.28 10383.67 -6953.30 USD Million [+]
Current Account to GDP -3.60 0.90 32.80 -18.70 percent [+]
Imports 1759720.29 2397223.91 2518686.57 167.88 NGN Millions [+]
Exports 1171043.45 1025050.17 2648881.76 322.93 NGN Millions [+]
Terms of Trade 101.16 101.08 160.25 49.48 points [+]
Foreign Direct Investment 427.76 495.42 3084.90 63.50 USD Million [+]
Capital Flows 2663.65 4146.35 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.46 21.37 21.46 21.37 Tonnes [+]
Crude Oil Production 1424.00 1361.00 2475.00 675.00 BBL/D/1K [+]
Remittances 3871.28 3373.09 6270.24 3373.09 USD Million [+]
Non Oil Exports 291221.37 212595.96 1450442.90 29675.90 NGN Million [+]
Oil Exports 879822.08 812454.21 2033861.20 46192.00 NGN Million [+]
Terrorism Index 8.31 8.60 9.31 3.86 [+]
External Debt 33348.08 31985.17 37267.68 3287.73 USD Million [+]