Africa Angola Commodities Oil Trade

Angola defends oil output cut extension

Angola’s minister of Mineral Resources and Petroleum, Diamantino Azevedo, said on Monday that the country supports the extension of crude-oil output cut fixed by members and non members of the Organization of Petroleum Exporting Countries (OPEC) in 2018.

Speaking to the press in Vienna (Austria), on the fringes of the 15th meeting of the Joint Ministerial Monitoring Committee (JMMC), the Angolan official said the country supports the extension to nine months the cut on oil output instead of just five months.

“Nine months is better” the minister said, when questioned by the journalists.

In the meantime, the minister added that the country is preparing itself in terms of downstream, through the opening of new refineries and storage depots.

Source: Angop

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