Oil production remains a key revenue source and major contributor to GDP in many African countries, though output often shifts from month to month.
June 2025 was no exception, with updated data from OPEC showing variations in output across the continent.
According to OPEC’s July Monthly Oil Market Report, the average value of the OPEC Reference Basket (ORB) rose to $69.73 per barrel in June, up $6.11 month over month.
The ICE Brent front-month contract averaged $69.80 per barrel, an increase of $5.79, while the NYMEX WTI front-month contract climbed by $6.39 to average $67.33 per barrel.
The global economy, according to the report, continued its steady growth in the first half of 2025.
OPEC maintained its forecasts for global economic growth at 2.9% in 2025 and 3.1% in 2026.
Projections for U.S. growth remain at 1.7% in 2025 and 2.1% in 2026, while Japan’s forecasts hold at 1.0% and 0.9% for 2025 and 2026, respectively.
Global oil demand growth is expected to stay unchanged at 1.3 million barrels per day in 2025.
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“West African crude differentials also strengthened in June on renewed demand from European and Asian buyers for July-loading cargoes.
The high value of similar grades in other regions also helped to lend support to West African grades,” the report states.
The report also noted that China’s exports to the U.S. dropped by 28% over the last two months.
However, this was offset by increased shipments to Africa, Latin America, the ASEAN region, and the European Union.
Based on OPEC’s latest figures, here are the African countries that produced the most oil in June 2025, measured in thousand barrels per day (tb/d):
—Nigeria led with 1,547 tb/d, an increase of 19 tb/d from May.
—Libya followed with 1,280 tb/d, though this marked a decrease of 24 tb/d.
—Algeria came in third with 927 tb/d, up by 7 tb/d.
—Congo held steady at 256 tb/d, with zero change from the previous month.
—Gabon rounded out the top five at 234 tb/d, an increase of 2 tb/d.
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Image Credit: Oilandgaspeople
