Algerian exports of oil increased during the first ten months of 2024 to 410,000 barrels per day, compared to 378,000 b/d during the same period of 2023, according to figures disclosed by the specialized platform attaqa.net. The same source detailed the main destinations of Algerian oil.
Although exports have increased, Algeria’s oil production has on the other hand fallen, going from 982,000 b/d on average between January and October 2023 to an average of 907,000 b/d during the same period of the current year. . This decline is induced by the voluntary reductions decided by the member countries of OPEC+, it is explained.
In detail, Algerian oil exports fell in the first quarter of 2024 to 375,031 b/d, compared to 377,001 b/d during the same period of 2023.
However, they were distributed upwards in the second quarter, to 456,000 b/d in the second quarter before falling again to 396,000 b/d in the third quarter of the year.
The figures for the current month of October show a clear increase compared to the same month of last year (442,000 compared to 388,000 b/d).
France, the biggest customer of Algerian oil
Regarding customers from Algeria, the figures do not provide any big surprises. These are roughly the same countries that purchase Algeria’s gas and are also the biggest demanders for its oil.
In first position, we find France with an average of 86,000 barrels of Algerian oil purchased each day during the same period, followed by Spain with 55,000 barrels and Italy (49,000 barrels). Algeria is the main supplier to the latter two countries with which it is connected by gas pipelines. France imports Algerian LNG by LNG tankers.
Portugal is the fifth buyer of Algerian oil with 32,000 b/d and the United Kingdom is seventh with 30,000 barrels.
Other major customers of Algerian oil are in Asia. These are South Korea, fourth with 35,000 barrels purchased on average daily between January and October 2024, and India, sixth with 31,000 barrels.
The rest of Algerian oil exported, 92,000 barrels/day, is shipped to many other countries around the world.
In Africa, Algeria has only one customer. This is South Africa which imported Algerian oil during the month of July alone, i.e. 33,011 barrels per day.
South African purchases of Algerian oil are not regular. According to the same source, this country had imported from Algeria 1,637 barrels/day in March 2018, 34,000 b/d in March and July 2023 and 12,900 b/d in August of the same year.
