Nigeria produced the most oil in Africa in April (1.28 million barrels per day)

Nigeria’s average daily production of crude oil jumped to 1.28 million barrels in April, according to the Organization of Petroleum Exporting Countries.

Tuesday’s release of its most recent monthly oil market report included this information.

Data on crude oil production is gathered by OPEC from two sources: secondary sources, like energy intelligence platforms, and direct communication from member nations.

Nigeria’s current output, according to the data, has increased by 4.07 percent from the 1.23 million barrels per day recorded in March. This is the first month-over-month production growth of the year.

Nigeria has regained its top spot as Africa’s greatest oil producer with this volume of production, with Algeria coming in second with 907,000 barrels per day.

Nigeria’s oil production, on the other hand, was reported by OPEC’s secondary sources to have decreased 3.15 percent to 1.35 million barrels per day in April from 1.39 million barrels per day in March.

“According to secondary sources, total OPEC-12 crude oil production averaged 26.58 mb/d in April 2024, 48 tb/d lower, MoM. Crude oil output increased mainly in Congo and Iran, while production in Nigeria, Iraq and Venezuela decreased,” the report read.

This study supports the conclusions of the Nigerian Upstream Regulatory Commission, which stated on Sunday that Nigeria produced 1.28 million barrels of crude oil per day in April, a slight rise.

The 1.78 million barrels per day aim established for supporting the 2024 budget was not met by this amount, nevertheless.

Still, it exceeded estimates from independent Reuters and Bloomberg surveys, which relied on industry sources and shipping data.