Nigeria has regained its enviable position as the top crude oil producer in Africa.
The Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC) released on Wednesday showed that Nigeria’s oil production or supply in May, using direct communication increased by 185,000 barrels per day to reach 1.184 million barrels per day (mbpd).
Nigeria’s oil production fell to 999,000 bpd in April compared after averaging 1.28 million bpd in the first three months.
Angola which upstaged Nigeria in April 2023 increased its production by 48,000bpd from 1,063 in April to 1.111mbpd in May.
