Nigeria dethroned by Libya as Africa's largest oil producer, says OPEC

Libya overtook Nigeria as the top African crude oil producer for March, data from the Organization of Petroleum Exporting Countries (OPEC) has shown. According to the April 2024 Monthly Oil Market Report (MOMR), Libya recorded 1.236 million barrels per day (bpd) of crude production in Marc

Libya overtook Nigeria as the top African crude oil producer for March.Libya recorded 1.236 million barrels per day (bpd) of crude production in March, up from 1.173 million bpd recorded in February.Nigeria recorded an output of 1.23 million barrels per day in March 2024, compared to 1.32 bpd in February 2024.

Meanwhile, Nigeria recorded an output of 1.23 million barrels per day in March 2024, compared to 1.32 bpd in February 2024. Despite the drop in output by 6.8 per cent, Nigeria retained its leadership position on the continent, producing 1.398 million bpd, while Libya produced 1.161 million bpd during the period.

“According to secondary sources, total OPEC-12 crude oil production averaged 26.60 mb/d in March 2024, 3 tb/d higher, m-o-m. Crude oil output increased mainly in IR Iran, Saudi Arabia, Gabon, and Kuwait, while production in Nigeria, Iraq, and Venezuela decreased.”


Peter Kinyua

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