Nigeria has lost its No.1 seat to Libya as the leading oil producer as its crude oil production fell in October.
Nigeria’s crude oil production fell to 1.23 million barrels per day in October, down from 1.25 million barrels per day the previous month.
Libya took over from Nigeria after its oil production rose to 1.24 million barrels per day in October, up from 1.16 million barrels per day the previous month.
BOOM Television also gathered from secondary sources that among OPEC members, Nigeria recorded the second biggest drop in output in October, after Iraq, as the country’s production declined by 45,000 bpd to 1.35 million bpd in October from about 1.40 million bpd in the month of September.
Crude oil output increased mainly in countries like Saudi Arabia, Venezuela, the UAE and Kuwait, while production in Nigeria, Gabon and Equatorial Guinea declined.
