Angola overtakes Nigeria as Africa’s leading producer of crude oil following a drop in production. Organization of Petroleum Exporting Countries (OPEC) made this known in its April 2023 Monthly Oil market report.
The output of crude oil by OPEC’s 13 member nations averaged 28.60 million barrels per day during the review period, a 191,000 barrels per day decrease month over month.
It said that while production fell in Iraq and Nigeria, it increased mostly in Saudi Arabia, Angola, and Iran. According to the report, Angola produced crude at a rate of 1.06 million barrels per day in April 2023.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports that the nation’s crude oil output fell to 998,602 bpd in April 2023, a fall of 21.26 percent from March.
The amount of crude oil produced in Nigeria in April was at its lowest level in the previous seven months. The most recent increase in the amount of crude oil production occurred between August and September last year.
The decrease was ascribed by the government and stakeholders to an increase in oil theft in the Niger Delta, an area that produces oil.
