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The Top Oil Producing Countries in Africa

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Numerous countries in Africa have distinguished themselves as top oil producing countries, thanks to their abundant mineral resources, agricultural potential, and developing industries.

These powerful countries are essential to improving Africa’s economic prospects and promoting regional and continental growth.

However, concerns like inequality, inadequate infrastructure, and poor governance continue and need to be addressed with focus.

Despite these disparities, Africa continues to supply the world with its fair share of resources, including petroleum products.

Also Read: Countries with World Largest Oil Reserves Vs African Countries with Largest Oil Reserves

The Top Oil-Producing Countries in Africa

Several of the world’s top oil producing countries are located in Africa. Nigeria, Angola, Algeria, Egypt, and Libya are among the continent’s largest oil producers.

These countries have large oil deposits, which have drawn attention from and investments from throughout the world. Their GDPs and export earnings are strongly impacted by the oil industry.

Other African nations that also generate a sizable amount of oil can be found among these dominating oil giants. The top ten oil producing countries in Africa are shown below.

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Check out the list’s previous iteration from the Organization of the Petroleum Exporting Countries (OPEC), which was published in February 2023.

The data platform Trading Economics, which provides its users with accurate information for 196 countries, including historical data and predictions for more than 20 million economic indicators, currency exchange rates, stock market indexes, government bond yields, and commodity prices, is the source of the list below.

Additionally, this list includes statistics on oil production from as far back as April 2023, taking into account countries having dated data, but the list’s primary focus is on May, June, and July’s oil output.

Also Read: Top Gas and Oil Exploration Companies in Africa 

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The data is displayed as BBL/D/1K, or barrels per day.

Rank Country Oil-production figures (BBL/D/1K) Month
1. Libya 1173 July
2. Angola 1149 July
3. Nigeria 1081 July
4. Algeria 955 July
5. Egypt 565 May
6. Republic of the Congo 282 July
7. Gabon 193 July
8. Sudan 187 April
9. Ghana 175 April
10. Chad 88 April

 

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Source
africa.businessinsider

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