Nigeria unexpectedly recovered, producing 1.186 million barrels per day in November, six months after Angola overtook it as the continent’s top oil producer.
The development demonstrates that the steps implemented by the Nigerian National Petroleum Company Limited (NNPC) and the government to combat oil theft are delivering favorable outcomes. According to the Organization of Petroleum Exporting Countries’ (OPEC) Monthly Oil Month Report for October, Nigeria has surpassed Algeria and Angola.
Using OPEC crude oil production based on direct communication, Nigeria’s production in August was 999,100 bpd; in September, 938,000 bpd; in October, 1,014 mbpd; and 1.186 mbpd in November, showing an increase of 171,000 bpd.
According to secondary sources, Nigeria’s crude oil production was 1.015 million barrels per day in September, 1.066 million barrels per day in October, and 1.158 million barrels per day in November, representing a 92,000 bpd increase.
Based on direct communication with OPEC, Algeria’s crude oil production in September was 1.058 MBPD; in October, 1,060 MBPD; and in November, 1.021 MBPD, representing a 39,000 bpd reduction. Angola produced 1.091 MBPD in September, 1,051 MBPD in October, and 1.088 MBPD in November, representing a 37,000 bpd rise.
