René Muschter
Research Expert covering Industry & Mobility
Oil industry in Algeria - statistics & facts
Algeria is among the leading oil producers and exporters worldwide. Amounting to over 12 billion barrels, its proven crude oil reserves are the third-largest in Africa after those of Libya and Nigeria. In 2021, crude oil production stood at around 1.4 million barrels per day. Oil and fossil fuels dominate Algeria's industrial sector, create significant export value, and impressively contribute to the economy. In fact, oil revenue is the main source of income for the country and accounts for nearly 25 percent of the GDP. Algeria is essentially dependent on the hydrocarbon industry, and at the same time vulnerable to the volatile oil market.
