Crude Oil Production in Nigeria decreased to 1310 BBL/D/1K in September from 1368 BBL/D/1K in August of 2020.

Crude Oil Production in Nigeria averaged 1873.84 BBL/D/1K from 1973 until 2020, 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 October of 2020. source: Organization of the Petroleum Exporting Countries

Crude Oil Production in Nigeria is expected to be 1800.00 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 1780.00 in 12 months time. In the long-term, the Nigeria Crude Oil Production is projected to trend around 1900.00 BBL/D/1K in 2021 and 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
1310.00 1368.00 2475.00 675.00 1973 - 2020 BBL/D/1K Monthly
NSA

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -807170.40 -574966.09 2177553.08 -975441.14 NGN Millions [+]
Current Account -3232.28 -4881.73 10383.67 -6953.30 USD Million [+]
Current Account to GDP -3.60 0.90 32.80 -18.70 percent [+]
Imports 1590021.69 1325501.38 2518686.57 167.88 NGN Millions [+]
Exports 782851.28 750535.29 2648881.76 322.93 NGN Millions [+]
Terms of Trade 103.19 103.48 160.25 49.48 points [+]
Foreign Direct Investment 427.76 495.42 3084.90 63.50 USD Million [+]
Capital Flows 4146.35 -6300.42 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.50 21.50 21.50 21.37 Tonnes [+]
Crude Oil Production 1310.00 1368.00 2475.00 675.00 BBL/D/1K [+]
Remittances 3373.09 5629.04 6270.24 3373.09 USD Million [+]
Non Oil Exports 159580.04 235709.85 1450442.90 29675.90 NGN Million [+]
Oil Exports 623271.24 514825.44 2033861.20 46192.00 NGN Million [+]
Terrorism Index 8.60 8.66 9.31 3.86 [+]
External Debt 31477.14 27665.66 37267.68 3287.73 USD Million [+]