The Organization of the Petroleum Exporting Countries (OPEC) has released its latest report, providing insight into the African oil production landscape in January 2025. According to the report, oil production in some African countries increased compared to the previous month, while others saw a decline. Despite this volatility, Nigeria emerged as the top oil-producing country in Africa, accounting for 1,495 thousand barrels per day (tb/d).

The report highlights that oil prices experienced significant volatility in January, rising to five-month highs before falling in the second half of the month. This fluctuation was largely driven by concerns over oil supply and trade, particularly following the introduction of fresh US sanctions. As a result, the 2025 global oil demand is expected to increase by a robust 1.4 million barrels per day (mb/d), year over year, remaining essentially unchanged from the previous month's assessment.

In terms of overall production, OPEC and non-OPEC members under the Declaration of Cooperation (DoC) averaged 40.62 million barrels per day (mb/d) of crude oil production in January 2025, a decrease of 118 thousand barrels per day (tb/d) compared to the previous month. The report also notes that preliminary data shows NGLs and non-conventional liquids output in 4Q24 averaged 8.3 mb/d, with OPEC Member Countries and non-OPEC DoC countries producing 5.5 mb/d and 2.8 mb/d, respectively.

Looking ahead, the 2025 forecast points to a combined increase of about 80 tb/d for an average of 8.4 mb/d. OPEC Member Countries are expected to see a growth of 0.1 mb/d to an average of 5.6 mb/d, while non-OPEC DoC countries are forecast to experience a drop of about 30 tb/d.

Ranking second on the list of top African oil-producing countries is Libya, with a production of 1,277 tb/d, representing a 17 tb/d increase compared to the previous month. Algeria follows closely, producing 895 tb/d, despite an 8 tb/d decline. Rounding out the top five are Congo, with a production of 260 tb/d, and Gabon, with 236 tb/d.

The OPEC report provides valuable insights into the complex dynamics of the African oil production landscape. As the global energy market continues to evolve, it remains crucial to monitor these trends and their implications for the industry as a whole.

For more information on the African oil production landscape, stay tuned to our coverage of the latest developments and trends in the energy sector.