oil leaks

Oil: Nigeria, Angola, Algeria… the hierarchy of producers shaken up once more

By Yara Rizk

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Posted on November 27, 2022 10:10

An oil refinery in the northern Libyan town of Ras Lanuf on June 3, 2020. ©AFP

While the Organization of the Petroleum Exporting Countries (OPEC) recently decided to lower its crude oil production levels, the move means that Nigeria has plummeted in the ranking of the continent’s main producers. Angola loses its short-lived leadership status.

To date, the crude oil reserves of Africa’s 10 largest oil-producing countries alone account for 10% of the world’s reserves, or about 122.5 billion barrels.

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