Top 10 Leading Oil Producing Countries In Africa | Oil Production By Country.
Channel: Africa Reloaded
Date: 2022-05-26

Oil Production By Country. Top 10 Leading Oil Producing Countries in Africa. 
It has been a tumultuous year for Africa’s largest oil producers, with global oil demand plunging 11% in the first half of 2020 and OPEC+ removing 9.7 million barrels per day (bpd) from the market in a momentous agreement last April. In short, the continent’s leading producers have maintained their dominance, albeit by tighter margins, with Nigeria and Angola producing between 25% and 30% less in 2021 than in 2019. Now, as OPEC gradually eases its production cuts, African producers are attempting to increase output to pre-COVID-19 levels, despite a resurgence in oil prices and a stepped-up exploration drive. Crude oil has long been an important source of wealth for many African governments. Crude reserves abound over the continent. According to Statista, the continent’s known crude oil reserves were estimated to be 125.3 billion barrels in 2021. As you may be aware, having abundant crude reserves is one thing; being able and willing to extract this oil is quite another. And, given that we are looking at oil output of 2021, it will be fascinating to see if the countries with the highest crude reserves also produced the most. 
Welcome to Africa Reloaded. In today’s video, we shall be taking you to see leading countries in oil production. Here are countries with the most oil reserves beginning from the lowest. Stay connected as we discover more. 

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