Libya has overtaken Nigeria as the top African crude oil producer for the month of March 2024, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown.
Libya has emerged as Africa’s top oil producer with an output of 1.24 million barrels of oil per day (bpd) in March 2024. This marks an increase of 5.4% compared to the country’s output of 1.17 million bpd in February.
According to OPEC, Nigeria lost the top spot after reporting a drop of almost 91,000 bpd from 1.32 million bpd in February to 1.23 million bpd in March, marking an output decrease of 6.8%.
In the meantime, the production increase fell in line with Libya’s efforts to ramp up production to two million bpd by 2030.
