The Organisation of Petroleum Exporting Countries (OPEC) has stated that an increase in Africa's crude oil supply by 90,000 b/d from the previous year to average 2.69m b/d in 2011, will be largely driven by supplies from Ghana's Jubilee Field.

The Jubilee Field, which started production in December last year, is currently producing at less than 50% of its expected peak of 120,000 b/d at the turn of the year. The continent's average supply for February remained unchanged from the previous month.

The latest edition of OPEC's 'Monthly Oil Market Report, released last month, looked at oil market highlights, OPEC crude oil production, and global trends in crude oil demand and supply, pricing, with a comprehensive analysis of economies, including that of non-OPEC members.