Libya overtakes Nigeria as Africa’s biggest oil producer

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Libya overtakes Nigeria as Africa?s biggest oil producer

Libya has overtaken Nigeria as Africa’s top oil producer after the country’s crude oil production fell further last month amid lingering supply disruptions. 

 

In a new report by the Organization of the Petroleum Exporting Countries, it was gathered that Nigeria’s oil output fell to about 1.23 million barrels per day in October from about 1.25 million bpd in the previous month. 

 

OPEC noted that 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. 

 

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

 

Nigeria’s production is said to have declined by 45,000 bpd to 1.35 million bpd in October from about 1.40 million bpd in September, and it is reported that this is the second biggest drop in output in October among its…



Source: Linda Ikeji

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