Nigeria’s October crude output averages 1.69 million bpd, meeting OPEC quota for sixth month
Published . Updated .
Market Call
Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.
Get these market calls by email
The week's biggest market-moving stories, Congress trades and Trump posts, with the tickers they touch. Free, one email a week.
Free. We only use your email to send the digest, never sell or share it, and every email has a one-click unsubscribe link. See our privacy policy.
ABUJA, Nov 11 (Reuters) – Nigeria’s crude oil output averaged 1.69 million barrels per day (bpd) in October, upstream regulator data showed on Wednesday, with production peaking at 1.79 million bpd and dipping to 1.60 million bpd during the month.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “crude” (oil) in this story.
- XLE Energy Select Sector SPDR+6.9% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “crude” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “crude” (tanker shipping) in this story.
- AFK VanEck Africa Index ETF
VanEck Africa Index ETF holds stocks listed in Africa, which this story is about (“nigeria”).
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- CVX Chevron+3.3% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- SHEL Shell+1.1% 9d
Shell (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- OXY Occidental Petroleum+10.3% 18d
Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +2.78% | +4.95% | base | -0.19% | after close | after close | after close |
| XLE | +2.11% | -0.95% | base | +1.21% | after close | after close | after close |
| BWET | +35.67% | +29.19% | base | +4.90% | after close | after close | after close |
| AFK | -2.84% | -1.74% | base | -1.44% | after close | after close | after close |
| XOM | +3.07% | +0.89% | base | +0.88% | after close | after close | after close |
| CVX | +2.73% | +0.67% | base | +0.64% | after close | after close | after close |
| SHEL | +4.68% | +1.86% | base | +0.19% | after close | after close | after close |
| OXY | +0.77% | -0.84% | base | +0.46% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Nigeria’s October crude output averages 1.69 million bpd, meeting OPEC quota for sixth month CNBC Africa
Source: CNBC Africa
Energy
| Company | When | Move | Status |
|---|---|---|---|
| AFK | that day | -1.44% | still updating |
| AFK | three days earlier | -1.74% | final price |
| AFK | five days earlier | -2.84% | final price |
| BWET | that day | +4.90% | still updating |
| BWET | three days earlier | +29.19% | final price |
| BWET | five days earlier | +35.67% | final price |
| CVX | that day | +0.64% | still updating |
| CVX | three days earlier | +0.67% | final price |
| CVX | five days earlier | +2.73% | final price |
| OXY | that day | +0.46% | still updating |
| OXY | three days earlier | -0.84% | final price |
| OXY | five days earlier | +0.77% | final price |
| SHEL | that day | +0.19% | still updating |
| SHEL | three days earlier | +1.86% | final price |
| SHEL | five days earlier | +4.68% | final price |
| USO | that day | -0.19% | still updating |
| USO | three days earlier | +4.95% | final price |
| USO | five days earlier | +2.78% | final price |
| XLE | that day | +1.21% | still updating |
| XLE | three days earlier | -0.95% | final price |
| XLE | five days earlier | +2.11% | final price |
| XOM | that day | +0.88% | still updating |
| XOM | three days earlier | +0.89% | final price |
| XOM | five days earlier | +3.07% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 28 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 72 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 28 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 49 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 70 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Occidental Petroleum (OXY), worth $100,001 - $250,000 on 21 Aug 2026. That is 82 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the energy case looks
12 out of 100Price not final
“Nigeria’s October crude output averages 1.69 million bpd, meeting OPEC quota for sixth month” scores 12 out of 100. The score uses 1 sources. The price is not final yet.