Nigeria has lost its Africa’s top oil producer position to Angola for the second time in two years, as the country’s crude oil production fell by 67,000 barrels per day last month, latest data from the Organisation of Petroleum Exporting Countries ( OPEC) have shown.
Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC).
Nigeria recorded the biggest drop in output in the month among its peers in OPEC, followed by Venezuela, based on direct communication.
Angola saw its oil output rise to 1.782 million bpd last month from 1.767 million bpd in February, based on direct communication, according to the OPEC report.
Again, this is not the first time the nation will lose its premier position to the former Portuguese enclave, spurred majorly by crude shut-ins resulting from either militant attacks or facility maintenance by oil companies.
The southern African country had in November 2015 overtaken Nigeria in output level as it produced 1.722 million bpd, compared to 1.607 million bpd produced by Nigeria, OPEC’s December report showed.
According to OPEC, its members pumped a combined 31.93 million barrels daily last month, down by 153,000 bpd from February. Saudi Arabia was said to have produced 9.9 million bpd in March, more than 100,000 bpd below its monthly quota under the production cut deal.
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