NIGERIA REGAIN SPOT AS AFRICA TOP CRUDE OIL PRODUCER

Image result for barrel of oilLatest statistic release by OPEC prove that Nigeria is now producing more crude oil than Angola with the return of the Forcados export terminal to strengthen the production in  Niger Delta

In the past nine months of 2016, oil production declined due to radical attacks on oil facilities by Niger Delta militant.

 The monthly oil market report for June release by OPEC ,  shows that in May Nigeria's crude oil production was 1.640 million barrels, higher than last month's 1.404 million barrels.

 In May, Angola's production was 1.593 million barrels per day, down from 1.651 million barrels last year.

Production from Nigeria, Libya and the North Sea has been rising, bringing the Atlantic Basin to light oil, weighing on crude values.



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