Libya Overtakes Nigeria As Africa’s Biggest Oil Producer
Nigeria has lost its Africa’s top oil producer status to Libya as its crude oil production fell further last month amid lingering supply disruptions, according to a new report by the Organization of the Petroleum Exporting Countries.
Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day in October from about 1.25 million bpd in the previous month, the cartel’s latest report released on Wednesday revealed.
Libya, which overtook Angola as the second-biggest producer on the continent in December last year, saw its oil production rise to 1.24 million bpd in October from 1.16 million bpd in September, based on direct communication, according to OPEC.
OPEC uses secondary sources to monitor its oil output, but also publishes a table of figures submitted by its ...