“We expect oil production to rise to 1.18 million barrels per day in 2022, but the balance of risks is skewed to the downside due to the possibility of further technical issues and delays in the implementation of new projects,” the analysts write. from Oxford Economics Africa.
"The confinements in place in China due to the Ómicron variant, and which have been extended to more than half of the largest Chinese cities, are allegedly slowing the increase in Angola's oil exports; in 2021, China accounted for more than 70 percent of the country's oil exports. Angolan oil exports", added the analysts in the note sent to customers, and to which Lusa had access.
In the text, they also write that production in April rose to the highest level since January, following two consecutive months of declines: "Accumulated production in the first four months of 2022 rose 1.8 percent over the same period of the year in the past, but oil revenues rose 87 percent mainly due to higher global oil prices".
Angola's production reached 1.18 million barrels a day in April, up from the 1.14 million pumped a day in March, according to figures from the Angolan authorities, which are still 310,000 barrels below what is currently permitted under the agreement with the Organization of Petroleum Exporting Countries and its partners.
