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Angola Top African Producer in August - Overtaking Nigeria: Bloomberg Survey

OIL

Angola overtakes Nigeria as Africa’s biggest crude producer in August: Bloomberg survey

  • Angola’s average daily output in August of 1.17 million barrels was more than Nigeria’s at 1.13 million barrels.
  • Nigeria’s production has declined steadily since 2020 and has reached multi-decade lows this year.
  • Libya is on track to be the next African nation to overtake Nigeria if production growth is able to develop or if Nigeria’s keeps declining.

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