• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Top 5 African Countries That Produced The Most Oil In March 2025

4 months ago
in Business, Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
56
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Top 5 African Countries That Produced The Most Oil In March 2025

According to the OPEC Secretariat statistics, the price of the OPEC basket of twelve crudes, made up of several African countries was $66,35 per barrel on Friday, up from $66,41 the day before.

This decline is in line with the recent global crude trajectory, which has seen the price of the resource crash significantly, given Donald Trump’s recent tariff policy.

The OPEC Reference Basket of Crudes (ORB) includes the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export, Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).​

As per OPEC’s recent report, “in March, the OPEC Reference Basket (ORB) value declined by $2.81, or 3.7%, m-o-m, to average $74.00/b.”

Given the recent development, the global oil demand growth projection for the year has been revised somewhat lower, to 1.3 mb/d year on year.

This slight revision according to OPEC’s report is primarily a result of the received 1Q25 data and the anticipated impact on oil consumption from newly announced US tariffs.

“Looking at transportation fuels, global jet/kerosene demand is forecast to grow by about 0.5 mb/d, y-o-y, each in 2Q25, 3Q25, and 4Q25,” the report states.

“Similarly, gasoline demand is projected to grow by about 0.5 mb/d, y-o-y, each in 2Q25, 3Q25, and 4Q25. Diesel is expected to increase by 0.1 mb/d, y-o-y, in 2Q25 and by about 0.2 mb/d, y-o-y, each in 3Q25 and 4Q25,” it adds.

Furthermore, stronger purchasing activity ahead of the summer season helped Europe’s jet fuel markets stabilize, but increased demand for exports to Africa amid a shortage of timely European gasoil supply has caused gasoil margins to soar in recent weeks.

As for Africa’s largest oil producer, given the exemptions for oil and gas and Nigeria’s modest exposure to US trade, it is expected that the new US tariffs, notably on Nigerian oil and gas exports, will have little effect on the country’s economy.

“Inflation continues to decline, though a weaker naira could slow the drop in price pressures. Nigeria’s public debt has risen, but rising oil production will help its fiscal position, even if lower oil prices may be a concern.” OPEC’s report states.

With that said, here are the African countries with the highest oil production last month in thousand barrels per day (tb/d).

Compared to last month’s list, production volume for Nigeria, Libya, Algeria and Gabon, all expreienced slight decline.

Congo for this month stands as the only country on the list to record an increase in oil production.

Top 5 African countries that produced the most oil in March 2025

RankCountryDoC crude oil production based on secondary sources, tb/dChange between March and February
1.Nigeria1,515-25
2.Libya1,262-22
3.Algeria912-2
4.Congo2591
5.Gabon222-1
Source: businessinsiderafrica
Via: norvanreports
Tags: Most OilTop 5 African Countries That Produced The Most Oil In March 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output

A Turning Point for Ghana’s Payments Industry: Why Clara’s Appointment at GHiPSS is Exactly What the Future Demands 

Appiah Adomako Writes: Why Government Must Take Interest in Who Acquires Shoprite Stores in Ghana

Cocoa Farmers to Protest Against GHS 3,228 New Farmgate Price on August 11, Demand GHS 4,000 per Bag

Top 10 African Countries With the Weakest Currencies in July 2025

U.S. Demands $15,000 Deposit for Visa Applicants From Zambia and Malawi

Trending

Business

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

August 6, 2025

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021 Ghana’s year-on-year inflation...

Kwaku Azar Writes: Is Another SML Brewing at GACL?

August 6, 2025

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

August 6, 2025

Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output

August 6, 2025

A Turning Point for Ghana’s Payments Industry: Why Clara’s Appointment at GHiPSS is Exactly What the Future Demands 

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.