Ver Angola


Oil: production quota increases to 1.5 million barrels per day

The country's oil production quota for next month will rise to 1,502,000 barrels a day. This increase is the result of an agreement reached this Thursday, at the 29th meeting of the Organization of Petroleum Exporting Countries and their allies (OPEC+).


According to a note from the Ministry of Mineral Resources, Oil and Gas, at the meeting, OPEC+ agreed to an increase to 648,000 barrels of oil per day for the next two months.

"The Organization of Petroleum Exporting Countries (OPEC) and allies, including Russia, known as OPEC+, agreed to increase production by 648,000 barrels per day (bpd) in July and 648,000 bpd in August," the statement reads. , made available on the guardianship's Facebook page.

As a result of this agreement, Angola's production quota will rise from 1,450,000 to 1,502,000 barrels per day, the note said.

"This increase in OPEC+ oil production serves to offset a drop in Russian production," the statement said.

According to another note, made available on the guardianship's Facebook, the compensation period will be extended until the end of December this year, "as requested by some low-performing countries", asking that "low-performing countries send their plans by June 17, 2022".

The next Ministerial Meeting is scheduled for June 30 this year.

According to Angop, current national production is situated at 1.1 million barrels a day, a figure below that allowed by the organisation.


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