Angola loses status as largest oil producer in Africa to Nigeria

4 September 2017

Angola was one of three member countries of the Organization of Petroleum Exporting Countries (OPEC), whose output fell in July, along with Iraq and Venezuela, according to the August oil market monthly report.

Nigeria, on the other hand, was one of the three countries where production increased most, the other two being Libya and Saudi Arabia, and Nigerian production exceeded that of Angola according to both secondary and direct sources.

Angola’s production in July increased, according to direct information, from 6,000 barrels per day to 1,668 million barrels per day, but Nigeria’s increased by 117,200 barrels per day to 1.674 million barrels per day.

According to secondary sources, Angola produced 19,300 barrels per day in July for a total of 1.646 million barrels per day, while Nigeria’s production increased by 34,000 barrels per day to 1.748 million barrels per day.

Russia, Angola and Saudi Arabia in June were the three main oil suppliers to China, with market shares of 18%, 13% and 11%, respectively, with Chinese oil imports increasing by 28,000 barrels a day to an average of 8.8 million barrels per day. (macauhub)