Nigeria Regains Top Crude Oil Production Spot in Africa, Says OPEC Report

34


OPEC

Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November.

The Organisation of Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December which was obtained by the News Agency of Nigeria (NAN) on Monday in Lagos.

The report said the figure showed an increment of 47,000 barrels per day when compared to the 1.228 mb/d produced averagely in October 2021.

Libya, which clinched the top spot in Africa in October with 1.24 mb/d, declined to 1.211 mb/d in November.

“According to secondary sources, total OPEC-13 crude oil production averaged 27.72 mb/d in November 2021, higher by 0.29 mb/d Month on Month.

”Crude oil output increased mainly in Saudi Arabia, Iraq and Nigeria, while production in Angola, Libya and Congo declined,” the report said.

It said the near term outlook of Nigeria economy was…



Source: Thisday Newspaper

Get the Latest Business Tenders and Contracts Information