Crude Oil Production in Nigeria decreased to 1411 BBL/D/1K in June from 1436 BBL/D/1K in May of 2020.

Crude Oil Production in Nigeria averaged 1876.64 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 August of 2020. source: Organization of the Petroleum Exporting Countries

Crude Oil Production in Nigeria is expected to be 1750.00 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
1411.00 1436.00 2475.00 675.00 1973 - 2020 BBL/D/1K Monthly
NSA

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -162246.25 197560.16 2177553.08 -975441.14 NGN Millions [+]
Current Account -4881.73 -6953.30 10383.67 -6953.30 USD Million [+]
Current Account to GDP -3.60 0.90 32.80 -18.70 percent [+]
Imports 1127880.09 1234379.31 2518686.57 167.88 NGN Millions [+]
Exports 965633.84 1431939.47 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 -6300.42 13235.94 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.50 21.46 21.50 21.37 Tonnes [+]
Crude Oil Production 1411.00 1436.00 2475.00 675.00 BBL/D/1K [+]
Remittances 5629.04 5925.68 6270.24 3836.61 USD Million [+]
Non Oil Exports 302855.61 374680.87 1450442.90 29675.90 NGN Million [+]
Oil Exports 662778.23 1057258.60 2033861.20 46192.00 NGN Million [+]
Terrorism Index 8.60 8.66 9.31 3.86 [+]
External Debt 27665.66 27676.14 37267.68 3287.73 USD Million [+]