Nigeria has ousted Libya, and Angola to regain its position as Africa’s top crude oil producer for October. The Organization of Petroleum Exporting Countries (OPEC) disclosed this in its monthly oil market report released on Monday. The oil production figures aside from condensate production from the top four oil producers in Africa were stated below:· Nigeria – 1.35 million barrels per day· Libya – 1.18 million barrels per day· Angola – 1.14 million barrels per day· Algeria – 961,000 barrels per dayAccording to secondary sources, total OPEC-13 crude oil production averaged 27.90 million barrels per day in October, higher by 80 thousand barrels per day month-on-month. Crude oil output increased mainly in Angola, Iran, and Nigeria, while production in Libya, Saudi Arabia, and Kuwait decreased. Also, the OPEC report shed light on Nigeria’s escalating inflationary pressure, primarily stemming from the removal of petrol subsidies and the devaluation of the naira.

Source: Libya Today November 13, 2023 18:55 UTC