According to a monthly Oil Market Report for November by the Organisation of the Petroleum Exporting Countries, Nigeria now ranks seventh on crude oil production list.
The report which examined oil production performance in October, Nigeria’s output was a mere 1.014 million barrels per day, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria.
While Nigeria’s production was 1. 014mb/d in October, Angola produced 1. 051mb/d; Algeria, 1.060mb/d; Kuwait 2.811mb/d; UAE, 3.188mb/d; Iraq, 4.651mb/d; and Saudi Arabia, 10. 957mb/d. While Venezuela’s production was 711b/d, Equatorial Guinea’s was 57b/d.
The likes of Gabon, Libya and Iran did not produce a barrel in the month.
Nigeria used to rank fifth, with countries such as Angola and Algeria behind it in terms of crude oil production.