Angola’s oil production overtakes Nigeria’s

17 December 2015

Angola overtook Nigeria in November with regard to oil production, according to data provided directly to the Organization of Petroleum Exporting Countries (OPEC).

The OPEC monthly report for December said that in November Angola produced 1.722 million barrels of oil per day, a monthly drop of 40,000 barrels per day, while Nigeria lowered output by 205,000 barrels per day to 1.607 million barrels per day.

The monthly downturn (November compared to October) registered in daily production in Nigeria was the highest among the OPEC member countries, followed by Saudi Arabia, the largest producer in the cartel, with 90,000 fewer barrels.

However, if production is based on secondary sources, the same report also said that in November while Angola produced 1.722 million barrels per day, a monthly increase of 24,400 barrels, Nigeria produced 1.925 million barrels per day, 25,000 fewer barrels than in October.

Angola, like other oil-producing countries, has been affected by the fall in world oil prices, the main varieties of which, Brent and West Texas Intermediate, are currently priced at less than US$40 a barrel, the lowest price since 2009. (macauhub/AO)