Crude Oil Production: OPEC says Angola has overtaken Nigeria

According to the Organization of Petroleum Exporting Countries, Angola and Libya overtook Nigeria by producing more crude during the review month, causing Nigeria's oil production to fall to 972,000 barrels per day in August 2022.

This information was provided by OPEC in its September 2022 report, supporting newly revealed data from the Nigeria Upstream Petroleum Regulatory Commission.

The PUNCH reported this week that in August 2022, Nigeria's crude oil production fell to its lowest level in previous years, falling below one million barrels per day.

According to the report, oil production in Nigeria decreased in August 2022, falling to 972,394 barrels per day, the lowest level ever recorded in years.

According to the report, the nation's oil production decreased from 1,083,899 bpd in July to 972,394 bpd in August, according to data from the NUPRC.

This was confirmed by OPEC, which noted that the decline in Nigeria's oil output caused Angola and Libya to surpass Nigeria in terms of oil output in its September 2022 oil sector report, which was published on Tuesday.

According to the data, Angola produced 1.187 million barrels per day on average for the month under review, making it the continent's top crude oil producer.

It stated that for August, Libya's crude oil production averaged 1.123 mb/d.

It stated that "secondary sources indicate that total OPEC-13 crude oil production averaged 29.65 mb/d in August, up 618,000 month-over-month."

The report added, “Crude oil output increased mainly in Libya and Saudi Arabia, while production in Nigeria declined.”

Source