• Thu. Nov 24th, 2022


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Nigeria drops from fifth to seventh on OPEC production list

Nov 21, 2022

Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil production list. 


OPEC’s Monthly Oil Market Report for November which examined oil production performance in October, revealed that Nigeria’s output was 1.014 million barrels per day in October, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria.


Angola produced 1. 051mb/d;  Algeria, 1.060mb/d; Kuwait 2.811mb/d; UAE, 3.188mb/d;  Iraq, 4.651mb/d; and Saudi Arabia, 10. 957mb/d.


Venezuela’s production was 711b/d, and Equatorial Guinea’s was 57b/d. Gabon, Libya and Iran did not produce any barrel in the month.


Nigeria used to rank fifth before the new report was released.