Thursday, 14 April 2016

Angola now Africa's top oil producer

The latest data from the Organization of Petroleum Exporting Countries has shown that Angola is now the Africa's top oil producer. This status was taken from Nigeria as a result of its drop in oil production output. Reports from Punch has it that the nation's production of crude oil fell by 67000 barrels per day last month. On Wednesday, an OPEC monthly Oil market report for April revealed that Nigeria crude oil production dropped to 1.677 million barrel per day for the month of  March as against its February production of  1.744 million barrel per day. Nigeria has the biggest drop in oil output in the month of March followed by Venezuela. This drop in oil production has been attributed to the constant militant attack in the Niger Delta, the country's major oil producing area.

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