"Angola's oil production for the month of July was 30,961,452 barrels, corresponding to a daily average of 998,757 barrels of oil (BOPD) against a projected 1,073,542 BOPD," reads the website of the National Agency of Petroleum, Gas, and Biofuels, the national regulator for the sector.
Associated gas production during the same period "was 82,307 million cubic feet, corresponding to a daily average of 2,655 million cubic feet (MMSCFD)," adds the same note, consulted this Thursday by Lusa.
The drop in production to less than one million barrels per day is the first time since the country left the Organization of the Petroleum Exporting Countries (OPEC) in 2023, arguing at the time that the 1.2 million barrels per day limit imposed by the cartel's quota was insufficient for the country's needs.
The drop in production is another challenge for Angola's public finances, which are also facing a reference oil price below the budgeted $70, resulting in a reduction in public revenue from exports of this commodity.
According to the Ministry of Mineral Resources, Oil and Gas, Angola exported 83.6 million barrels of crude oil in the second quarter of 2025, generating $5.6 billion in revenue, a 13.6 percent decrease compared to the same quarter of the previous year.
The volume of oil exported represents a 3.82 percent decrease compared to the previous quarter, still generating revenue of approximately €4.7 billion. The gross value of exports in the second quarter decreased by 12.5 percent compared to the previous quarter, and year-over-year, the reduction was 29.81 percent, according to data presented at the end of last month.
Angola had forecast exports of 1.07 million barrels per day in July, and also expects a reduction in exports, from 1.09 million in September to 994,000 in October, according to preliminary cargo data reported by the financial information agency Bloomberg.
