Libya has now become the largest oil producer in Africa
Libya surpassed Nigeria to become the leading producer ( Photo: Financial Tribune )
According to recent data released by the Organisation of Petroleum Exporting Countries (OPEC), Libya surpassed Nigeria to become the leading crude oil producer in Africa for March 2024.
In March 2024, Libya achieved the status of Africa's top oil producer with a daily output of 1.24 million barrels, showing a 5.4% increase from its February output of 1.17 million barrels per day.
In contrast, Nigeria's production dropped to 1.23 million barrels per day in March, down from 1.32 million barrels per day in February, representing a decline of 6.8% and resulting in Libya overtaking Nigeria in oil production for the month.
Libya's increased production aligns with its target to reach a production level of two million barrels per day by 2030.
Credit Source : Organisation of Petroleum Exporting Countries (OPEC), Libyaobserver
