Ver Angola

Energy

National oil production grew to 1.39 million barrels per day in February

The country produced 1.39 million barrels of oil per day in February, up 15,000 on January, according to the monthly report by the Organization of Petroleum Exporting Countries (OPEC) released this Wednesday.

:

The published figures, based on data from secondary sources, show an increase in daily production during the second month of the year, after this figure fell by 23,000 barrels from December 2019 to January 2020.

Angola maintained its position as the second largest African crude producer in OPEC, behind Nigeria.

Nigeria, Africa's leading oil producer, saw its daily production grow to 1.789 million barrels per day, up 29,000 barrels from 1.760 million barrels in January.

For practically the whole of 2016 and until May 2017, Angola led oil production in Africa, a position it has since lost to Nigeria.

Production in Nigeria was conditioned, between 2015 and 2016, by terrorist attacks, armed groups and internal political instability.

The most recent OPEC report also said that in terms of "direct communications" to the organization, Angola would have produced 1.387 million barrels per day in February, 27,000 barrels less than the previous month.

The figures obtained through "direct communications" thus counter the increase in production that appears in the figures obtained by OPEC from secondary sources, although these figures are close.

Figures from official Nigerian sources in the report point to an increase of four thousand barrels per day in February to 1.742 million.

OPEC members and their partners, including Russia, had announced a further decrease in oil production by at least 500,000 barrels per day in a strategy to sustain prices.

The expectations of the organization and its allies were, however, dashed by the global economic downturn caused by the coronavirus epidemic, which led OPEC to revise strongly the forecast for growth in world oil demand.

In the monthly report on the oil market released this Wednesday in Vienna, OPEC estimated an expansion in demand of 60,000 barrels per day and stressed that, "in view of the latest events, the downside risks more than offset the positive indicators and let us anticipate further downward revisions in demand growth".

Until now, OPEC had indicated an increase in demand of 990,000 barrels per day in 2020.

Thus, the estimate of global demand for oil in 2020 is now 99.73 million barrels per day, with consumption increasing in the second half of the year compared to the first. These estimates assume that economic activity will normalise by the fourth quarter.

Permita anúncios no nosso site

×

Parece que está a utilizar um bloqueador de anúncios
Utilizamos a publicidade para podermos oferecer-lhe notícias diariamente.