Nigeria's crude oil production in August dropped the most among
its peers in the Organisation of Petroleum Exporting Countries.
The country had in March lost the status of Africa’s top oil producer to Angola when the country’s production dropped to 1.677 million barrels per day, compared to Angola’s 1.782 million bpd.
OPEC’s Monthly Oil Market Report for September, which was released on Monday, showed that Nigeria’s oil output fell to 1.468 million bpd in August from 1.52 million bpd in the previous month, based on direct communication.
Nigeria had in July recorded the biggest increase in output, but it was not enough to help the country regain the top spot from Angola.
According to secondary sources, OPEC crude oil production stood at 33.24 million bpd in August, a decrease of 23,000 bpd over the previous month.
The country had in March lost the status of Africa’s top oil producer to Angola when the country’s production dropped to 1.677 million barrels per day, compared to Angola’s 1.782 million bpd.
OPEC’s Monthly Oil Market Report for September, which was released on Monday, showed that Nigeria’s oil output fell to 1.468 million bpd in August from 1.52 million bpd in the previous month, based on direct communication.
Nigeria had in July recorded the biggest increase in output, but it was not enough to help the country regain the top spot from Angola.
According to secondary sources, OPEC crude oil production stood at 33.24 million bpd in August, a decrease of 23,000 bpd over the previous month.
Culled from the Punch
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