According to the latest Monthly Oil Market Report (MOMR) from the Organization of Petroleum Exporting Countries (OPEC), Algeria, Libya, and Nigeria are leading Africa in oil and gas exploration.
The report, released in September 2025, shows these three nations have the highest rig counts on the continent. In August 2025, Algeria led with 40 rigs, followed by Libya with 18, and Nigeria with 15.
This is a slight change from July, when Algeria had 42 rigs and Nigeria had 13, while Libya’s count remained stable. In contrast, smaller producers like Congo and Gabon had only one and three rigs, respectively, while Equatorial Guinea recorded no activity.
Globally, OPEC members had a combined 596 rigs, with Saudi Arabia leading at 232. Non-OPEC countries had 1,268 rigs, bringing the total global rig count to 1,864.
The OPEC report also highlighted several global economic trends, including stable global manufacturing investment and a 5.7% year-on-year growth in industrial production in July. Merchandise exports rose by 7.2% in July, driven by strong growth in the European Union and Southeast Asia.
The report also pointed to the ongoing US-China tariff dispute, noting that both sides had agreed to extend their trade truce until November 10. Chinese producers are increasingly targeting markets in Asia, Africa, and Latin America to mitigate the impact of US trade restrictions.
Furthermore, the report pointed to steady infrastructure spending in China and a rise in road traffic, suggesting strong domestic demand for petroleum products.
Looking ahead, the report provided a forecast for specific petroleum products in 2025. Naphtha demand is expected to lead with a 160,000 barrels per day (tb/d) increase, while jet fuel/kerosene demand is forecast to rise by 70 tb/d and NGLs/LPG demand is projected to grow by 40 tb/d.
Conversely, demand for gasoline is expected to decline by about 10 tb/d, and gasoil/diesel by 40 tb/d.
