Nigeria has reclaimed its position, as Africa’s largest oil producer, by overtaking Angola, data from the Organisation of Petroleum Exporting Countries has shown.According to the April 2023 Monthly Oil Market Report published by the oil cartel, Angola recorded 1.06 million barrels per day of crude production in April, up from 972,000 bpd recorded in March.
However, in its latest monthly report, the Organisation of Petroleum Exporting Countries said Nigeria’s oil production increased by 185,000 barrels per day to 1.184 million bpd in May 2023. In April 2023, Libya’s oil output reached 1.21 million bpd, surpassing Nigeria as Africa’s largest producer. “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.
Source: News Formal (newsformal.com)
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