The Organisation of the Petroleum Exporting Countries (OPEC) has revealed that Nigeria remained Africa’s leading crude oil producer in March, despite recording a slight decline in production.
According to OPEC’s latest monthly report released on Monday, Nigeria’s oil output dropped to 1.40 million barrels per day (bpd) in March, down from 1.46 million bpd in February. Despite the reduction, Nigeria outperformed other African producers, including Algeria and Congo.
Based on direct communication data, the report shows Algeria produced 909,000 bpd, while Congo managed 263,000 bpd during the same period—keeping Nigeria at the top of the continent’s oil production chart.
OPEC further noted that Nigeria’s crude production averaged 1.51 million bpd in March, slightly lower than the 1.54 million bpd recorded in February. The overall crude output for OPEC+ member countries averaged 41.02 million bpd in March, marking a month-on-month decrease of 37,000 bpd.
Meanwhile, figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the country’s output for March stood at 1,400,783 bpd. Despite the slight decline, NUPRC highlighted that the figure represents 93 percent of Nigeria’s 1.5 million bpd quota under OPEC’s allocation.
Source : https://dailytrust.com/
