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Nigeria Fails to Maintain Africa’s Top Oil Producer Spot in April 2023

Nigeria has lost its place as the top African crude oil producer for April 2023 to Angola, according to the Organization of Petroleum Exporting Countries (OPEC) monthly oil market report.

Angola recorded 1.06 million barrels per day (bpd) of crude production in April compared to Nigeria’s 999,000 bpd – its lowest production rate in 2023, the report disclosed.

Nigeria was Africa’s top crude oil producer in March, with a production capacity of 1.2 million bpd.

The country produced 998,602 barrels per day of crude oil in April, Nairametrics online newspapers reported, citing data from the Nigerian Upstream Petroleum Regulatory Commission.
 
Total OPEC-13 crude oil production averaged 28.60 million barrels per day (mb/d) in April, lower by 191,000 bpd month-on-month.
 
Crude oil output increased mainly in Saudi Arabia, Angola and Iran, while production in Iraq and Nigeria declined.
 
OPEC said that the world oil demand is expected to reach 101.9 million bpd this year but still depends on rising global tension.

Source : Zawya

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