Nigeria retains position as Africa’s largest oil producer – OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) has announced that Nigeria has maintained its position as the largest oil producer in Africa.

According to OPEC’s latest monthly report for November released on Wednesday, Nigeria’s oil output increased to 1.48 million barrels per day (bpd) from 1.33 million bpd in the previous month.

Nigeria’s production figure surpassed that of Algeria, which produced 908,000 bpd, and Congo, which had an output of 268,000 bpd for the month of November.

OPEC’s data, based on direct communication, showed that Nigeria’s crude production increased to 1.417 million bpd in November, up from 1.4 million bpd in October.

“According to secondary sources, total OPEC-12 crude oil production averaged 26.66 mb/d in November 2024, which is 104 tb/d higher m-o-m.

“Crude oil output increased mainly in Libya, IR Iran, and Nigeria, while production in Iraq, Venezuela, and Kuwait decreased.

“At the same time, total non-OPEC DoC crude oil production averaged 14.01 mb/d in November 2024, which is 219 tb/d higher, m-o-m. Crude oil output increased mainly in Kazakhstan and Malaysia,” OPEC said.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also reported a significant increase in Nigeria’s crude oil production, reaching 1.69 million bpd in November, up from 1.53 million bpd in October.

OPEC’s report noted that crude oil output increased mainly in Libya, Iran, and Nigeria, while production in Iraq, Venezuela, and Kuwait decreased.