OPEC+ has approved its fourth consecutive monthly output hike, increasing production quotas by 188,000 barrels per day for September. This move continues the group’s strategy to unwind supply cuts implemented in 2023. While the alliance is expected to pause further increases after September, the policy remains subject to global market conditions and regional geopolitical tensions.

For Nigeria, the development supports ongoing efforts to scale domestic crude output. Recent data shows the nation produced 1.56 million barrels per day in June, consistently exceeding its OPEC quota and aligning with the government’s 1.84 million barrels per day target for the 2026 federal budget. The improved production performance has contributed to stronger financial results for NNPC Limited, which reported a profit after tax of 535 billion Naira in June.