Nigeria regains spot as Africa’s top crude oil producer

Latest data from OPEC show Nigeria now surpasses Angola in crude production following the

return of Forcados export terminal which enhances production in the Niger Delta.

For nine months in 2016, Nigeria witnessed decrease in oil production due to militant attacks on oil facilities.

OPEC, in its Monthly Oil Market Report for June 2017, shows crude production from Nigeria at 1.640 million barrels per day in May, up from 1.404 million, the previous month.

Production from Angola stood at 1.593 million barrels per day in May, down from the 1.651 million it closed last year.

Rising output from Nigeria, Libya and the North Sea kept the Atlantic basin well supplied with light sweet crude, weighing on crude values.

Nigeria regains spot as Africa’s top crude oil producer

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