Africa plays a major role in the global oil and gas industry. The continent is responsible for about 8% of global supply.
African crude oil and condensate output was about 6.52 million barrels per day in 2022 which was a 4.2% drop year-on-year attributed to unplanned outages to maintenance policies.
Some African countries depend largely on the oil sector and the largest producers of crude oil on the continent are Angola, Nigeria and Algeria.
However, the expected output for oil and condensate by the end of 2023 is around 7 million barrels per day with Nigeria, Libya, Algeria, Angola and Egypt contributing an output of 21%, 18%, 18%, 16% and 8% respectively.