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Nigeria has reclaimed its position, as Africa’s largest oil producer, by overtaking Angola, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown.
Angola had overtaken Nigeria to emerge top African crude oil producer for the month of April,
According to the April 2023 Monthly Oil Market Report (MOMR) published by the oil cartel, Angola recorded 1.06 million barrels per day (bpd) of crude production in April, up from 972,000 bpd recorded in March.
But Nigeria recorded an output of 999,000 bpd in April compared to 1.3 million bpd in March. The April output figure represented the lowest production rate the nation has recorded in 2023.
However, in its latest monthly report, the Organisation of Petroleum Exporting Countries (OPEC) said Nigeria’s oil production increased by 185,000 barrels per day (bpd) to 1.184 million bpd in May 2023.
In the same month, the report said, Libya produced 1.158 million bpd, Angola produced 1.111 million bpd, and Algeria produced 962,000 barrels bpd, respectively.
In April 2023, Libya’s oil output reached 1.21 million bpd, surpassing Nigeria (whose production fell to 998,602 bpd) as Africa’s largest producer.
But according to fresh data provided by OPEC, the current oil output has placed Nigeria in the top spot in Africa.
“According to secondary sources, total OPEC-13 crude oil production averaged 28.06 million barrel per day in May 2023, lower by 464,000 bpd month-on-month,” OPEC said.
“Crude oil output increased mainly in Nigeria, Iran, and Angola, while production in Saudi Arabia, the UAE, and Kuwait declined.”
Peoplesmind
