Libya remains Africa’s Second-Largest Oil Producer

A recent report by the International Energy Agency (IEA) highlighted a decline in Libya’s crude oil production in 2024, following a year of fluctuating and unstable output. Despite this decline, Libya maintained its position as the second-largest oil producer in Africa.
According to the report, Libya’s average oil production fell to 1.1 million barrels per day (bpd) in 2024, down from 1.262 million bpd in 2023. However, Libya retained its second-place ranking among the top five oil producers in Africa.
Nigeria continued to lead the continent in oil production for the second consecutive year, with an average output of 1.409 million bpd in 2024, up from 1.315 million bpd in 2023.
Algeria’s production decreased to 907,000 bpd in 2024, down from 973,000 bpd in 2023, placing it third on the list. Congo and Gabon followed in fourth and fifth place, with production levels of 255,000 bpd and 212,000 bpd, respectively.