Angola has replaced Nigeria as the continent’s biggest producer of crude oil.
This information was made available in the Organisation of Petroleum Exporting Countries’ (OPEC) April 2023 Monthly Oil Market Report (MOMR) direct communication data.
With 999,000 barrels per day in April, Nigeria’s output rate fell to its lowest level since 2023. In April 2023, Angola produced 1.06 million barrels per day of crude, and Algeria produced 999,000 barrels per day during the comparable time.
Crude oil output increased primarily in Saudi Arabia, Angola, and Iran, while production in Iraq and Nigeria declined. This isn’t the first time Nigeria will be losing the spot to Angola.
In 2022, several oil and gas companies as well as crude producing countries benefited from higher oil prices because of the Russia-U.K. conflict. Total OPEC-13 crude oil production averaged 28.60 million barrels per day (mb/d) in April 2023, lower by 191 thousand barrels
