Since then, the country has worked its way up through the ranks to become one of the biggest crude oil producers in Africa. The country’s crude yields peaked in 2008 at slightly less than 2 million barrels per day (bpd) and now stand at around 1.10-1.15 million bpd. The government has said it wants to push production levels up to 1.3 million bpd, but it will not necessarily have an easy time doing so. But they do offer two examples of the work that the country has been doing to counter the long-term decline in oil production levels. But the point is not just to increase crude production and keep an existing industry afloat.

Source: News Business Ethiopia July 17, 2023 23:46 UTC