Oil Production: Angola Retains Continental Top Spot

Angola continued as Africa’s number one oil producer in February, beating Nigeria to the second spot, according to the Organisation of Petroleum Exporting Countries (OPEC) monthly report on the oil market.
After having remained below Nigeria in 2015, with 1.753 million barrels per day, against 1.861 million barrels per day, from 2016 it remained consistently the leading oil producing country in the African continent.
According to the document that reached Angop on Wednesday, the country closed the year 2016 with a production of 1.73 million barrels per day against 1.577 million barrels per day of Nigeria.
February production, based on secondary sources, amounted to 1.641 million barrels per day, a drop of 18.200 barrels per day, compared to January, while Nigeria accounted for 1.608 million barrels per day, with a monthly increase of 58.000 barrels per day.
Oil production in OPEC member countries contracted in February by 0.14 million barrels per day in monthly terms to 31.96 million barrels per day, with Saudi Arabia, Iraq, the United Arab Emirates and Angola registering the largest breaks and Nigeria the largest increase.‎

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