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Angola beats Nigeria as Africa’s largest oil producer; Avengers to blame – The Cable

HomeNewsAngola beats Nigeria as Africa’s largest oil producer; Avengers to blame – The Cable
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12
Jul
Angola beats Nigeria as Africa’s largest oil producer; Avengers to blame – The Cable
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Angola is again the largest producer of crude oil in Africa, as militant activities continue to cripple Nigeria’s crude oil production.

According to the Organisation of Petroleum Exporting Countries (OPEC), Angola’s production levels rose by about 4,000 barrels per day, from May to June 2016.

In like manner, oil production rose by 98,000 barrels per day in Nigeria, but militant activities in the Niger Delta region continued to weigh on oil production.

According to OPEC secondary sources, in its latest monthly report, Angola’s production for June was at 1.773 million barrels per day, while Nigeria grappled with only 1.523 million barrels per day.

The plunge in Canada and Nigeria’s production, drove the OPEC basket price of crude by 40 percent – its largest quarterly gain ever.

The Cable has more.


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