Rédaction Africa Links 24 with ania.b
Published on 2024-04-18 12:43:59
The list of the largest African oil producers in OPEC has seen variations in the average production of countries in the continent during the first quarter of this year, as some of them have applied voluntary reductions while committing to the production reduction policy followed by the OPEC+ alliance.
According to data from the energy platform, the average production of crude oil in Libya, Algeria, and Congo decreased during the first quarter of 2024 on an annual basis.
On the other hand, Nigeria’s average production increased during the first quarter of this year to reach 1.423 million barrels per day, compared to 1.345 million barrels per day in the same period of the previous year, maintaining its position at the top of the list of the largest African oil producers within OPEC. In January of this year, Nigeria’s oil production reached 1.434 million barrels per day, compared to 1.308 million barrels per day in the same month of 2023, according to the monthly report of the Organization of the Petroleum Exporting Countries. Nigerian oil production increased on an annual and monthly basis in February to reach 1.437 million barrels per day, the highest level of the country in the first quarter of 2024, compared to 1.371 million barrels per day in the same month of 2023.
For Libya, the average oil production dropped to 1.117 million barrels per day between January and March, compared to 1.156 million barrels per day in the same quarter of 2023, ranking it second on the list of the largest African oil producers in OPEC.
As for Algeria, it ranked third on the list of the largest African oil producers in OPEC during the first quarter of 2024, with a decrease in its average production to 0.910 million barrels per day, compared to 1.015 million barrels per day in the corresponding quarter of the previous year.
In January 2023, Algeria recorded its highest oil production rate during the observed period, at 0.912 million barrels per day, compared to 1.016 million barrels per day in the corresponding quarter of 2023. The country’s oil production decreased on an annual and monthly basis in February to reach 0.908 million barrels per day, compared to 1.017 million barrels per day in February 2023, according to observations by the energy research unit.
On a monthly basis, Algerian oil production slightly increased in March to reach 0.909 million barrels per day, but it remains lower than the same month of the previous year, where it was 1.012 million barrels per day. It is worth noting that since January 2024, Algeria has been applying an additional voluntary reduction of 51,000 barrels per day until the end of June, in addition to a voluntary reduction of 48,000 barrels per day announced since April 2023, which is expected to continue until the end of 2024.
Read the original article(French) on Algerie 360
