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OIL
Angola reduces export volumes in October loading schedule
- The October loading schedule plans for 980kbpd compared to a previous plan of 1.01mbpd which would be the lowest since Jul 2021.
- The Angola production target from the OPEC+ agreement was today published at 1.525mbpd.
- Lack of investment since 2014 and covid related drilling delays have combined to limit production. Without investment they are struggling to pay maintenance and repairs as well as to finance the development of new fields.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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