According to the Organisation of Petroleum Exporting Countries, Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing higher volumes of crude during the review month.
OPEC revealed this in its September 2022 report, confirming the figures released recently by the Nigeria Upstream Petroleum Regulatory Commission.
It was reported last week that Nigeria’s crude oil production slumped below one million barrels per day in August 2022, the lowest ever in several years.
The report showed that oil production in Nigeria dropped in August 2022, crashing below one million barrels per day to 972,394 BPD, the lowest ever recorded in years.
It stated that Angola was Africa’s highest crude oil producer for the month under review with an average production of 1.187mb/d.
It said Libya’s crude oil production averaged also 1.123mb/d for August.
“According to secondary sources, total OPEC-13 crude oil production averaged 29.65 mb/d in August, higher by 618,000 month-on-month,” it stated.
The report added, “Crude oil output increased mainly in Libya and Saudi Arabia, while production in Nigeria declined.”
