Nigeria has retained its position as Africa's top oil producer, with a rise in output to 1.48 million barrels per day in November 2024. The country's production surpassed Algeria and Congo, continuing its leadership in the African oil sector, according to OPEC and the Nigerian Upstream Petroleum Regulatory Commission.
According to the latest report by the Organization of the Petroleum Exporting Countries (OPEC), Nigeria continues to lead Africa in oil production. In November 2024, Nigeria’s daily output increased to 1.48 million barrels, a significant rise from 1.33 million barrels in October.
This achievement underscores Nigeria’s dominant role in Africa's oil sector, surpassing Algeria, which produced 908,000 barrels per day, and Congo with 268,000 barrels. OPEC’s data indicated that Nigeria’s crude output further rose to 1.417 million barrels per day in November from 1.4 million barrels in October.
OPEC also reported that while oil production increased across several countries, including Libya and Iran, countries like Iraq and Venezuela saw declines. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also reported a higher figure, noting a rise in Nigeria's production to 1.69 million barrels per day in November, up from 1.53 million in October.
This marks another milestone for Nigeria, reaffirming its status as Africa’s top oil producer and its significance in the global oil market, despite the fluctuating trends seen in other oil-producing nations.
