Nigeria Leads Africa’s Oil Production in February 2025

Africa’s oil production in February 2025 saw notable shifts, with some countries increasing output while others recorded slight declines.

The OPEC Reference Basket (ORB) fell by $2.57 (3.2%) in February, averaging $76.81 per barrel. Meanwhile, ICE Brent crude dropped by $3.40 (4.3%) to $74.95/b, and NYMEX WTI fell by $3.89 (5.2%) to $71.21/b.

Despite these price movements, global oil demand growth for 2025 remains unchanged at 1.4 million barrels per day (mb/d). The OECD is expected to see a modest 0.1 mb/d increase, while non-OECD countries will drive most of the growth at 1.3 mb/d. Projections for 2026 mirror these figures, with another 1.4 mb/d increase anticipated.

In OECD Europe, crude imports rose in February due to increased flows to Spain, Poland, and the Netherlands. However, product exports to Africa declined, signaling shifts in trade patterns.

Nigeria and Other Leading Oil-Producing African Countries in February 2025

— Nigeria: Maintaining its position as Africa’s largest oil producer, Nigeria recorded an output of 1,560 thousand barrels per day (tb/d). This marked an increase of 34 tb/d from January, reinforcing its dominance despite global price fluctuations.

— Libya: Libya secured second place with a production of 1,279 tb/d, experiencing a 9 tb/d increase compared to January. The country’s production continues to show resilience amid ongoing challenges.

— Algeria: Following closely behind, Algeria ranked third with an output of 913 tb/d, also recording a 9 tb/d increase from the previous month. The country remains a significant player in the region’s oil sector.

— Congo: Unlike the top three, Congo saw a slight decline in output, producing 257 tb/d, which was 1 tb/d lower than in January.

— Gabon: Completing the top five, Gabon produced 226 tb/d, experiencing the largest decline among these countries with a drop of 6 tb/d from the previous month.

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