Nigeria has regained its top position among crude oil producing countries in Africa with crude oil production averaging 1.27 million barrels per day in November, according to the latest monthly report from the Organisation of Petroleum Exporting Countries (OPEC). The latest OPEC report indicated that Nigeria pumped an additional 47,000 barrels per day; compared to the 1.228 mb/d produced averagely in the month of October 2021. Last month, Nigeria lost its top oil producer status in Africa to the North African country, as its crude oil production continued to fall mainly due to aging upstream infrastructure. In the same month, Nigeria’s oil output fell to about 1.23 million barrels per day from about 1.25 million bpd the previous month, with Libya, which overtook Angola as the second-biggest producer on the continent in December last year, seeing its oil production rise to 1.24 million bpd. According to the latest […]