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Angola’s Oil Production Rose 3.6% in Dec

OIL

Angola’s monthly oil production rose in December to 1.122m b/d, above the forecasts of 1.169m b/d, according to ANPG data. Total production across the month was 32.3m bbl.

  • This represents a 3.6% rise from November’s 32.5m bbl or 1.083m b/d.
  • Angola left OPEC in late December over disagreements regarding its oil quotas. It was given a quota of 1.11m b/d, marginally below its output for December.
  • However, Angola is still not producing at the quota it demanded, 1.18m b/d.
  • The African nation is seeking to boost investment in its struggling oil sector to boost production further.
  • Loadings of Angolan crude for March stand at 1.05m b/d, the lowest since September, according to the preliminary loading programme.

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