OPEC: Nigeria No Longer Africa’s Largest Oil Producer

OPEC: Nigeria No Longer Africa's Largest Oil Producer
- Advertisement -

Nigeria is no longer Africa’s largest oil producer. This is according to the Organization of the Petroleum Exporting Countries (OPEC), who disclosed this development in a report.

In the report, the intergovernmental organisation established for oil-related purposes, revealed that Nigeria’s oil production output dropped further last month (October 2021). Hence, Libya now tops the list of Africa’s largest oil producers.

Amid lingering oil supply disruptions due to COVID-19 pandemic, Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day (bpd) in the month under review from about 1.25 million bpd in September.

Libya, which overtook Angola as the second-biggest producer on the continent in December last year, saw its oil production rise to 1.24 million bpd in October from 1.16 million bpd in September, based on direct communication, according to OPEC.

OPEC uses secondary sources to monitor its oil output, but also publishes a table of figures submitted by its member countries.

- Advertisement -

According to secondary sources, Nigeria’s production declined by 45,000 bpd to 1.35 million bpd in October from about 1.40 million bpd in September.

Nigeria recorded the second biggest drop in output in October among its peers in OPEC, after Iraq, based on direct communication. The country’s production fell the most in the month, according to secondary sources.

Previous articleHow N-power Batch C Beneficiaries Can Validate Their Accounts
Next articleFraud-accused Nigerian Pastor Celebrates Birthday In Yahoo-boy Style