Angola’s production quota in the Organization of Petroleum Exporting Countries (OPEC) increases to 1.529,000 barrels of oil/day as of September, after the Cartel just allowed another 100,000 barrels/day.
The agreement to increase oil production by 100,000 barrels/day, starting in September, was taken at the 31st OPEC and Allied
Ministerial Meeting (OPEC+) held this Wednesday, in Vienna, Austria.
This is a lower rate than the one that had been decided by OPEC+ for the months of July and August this year, a period in which an offer of 600 thousand barrels of oil/day was agreed. Thus, with this agreement for September, Angola moves to 1,529,000 barrels/day, as approved by the Cartel, ANGOP has learnt.
In the same chart, Nigeria appears with 1,830,000 barrels/day.
For this month of August, Angola’s production quota in OPEC is 1.502,000 barrels/day of crude oil.
At this 31st OPEC and non-OPEC Ministerial Meeting, the members, based on the current fundamentals of the oil market and the consensus on its prospects, reaffirmed the decision to reached at the 10th Ministerial Meeting held on 12 April 2020, including that of the 19th OPEC and non-OPEC Ministerial Meeting of 18 July 2021.
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Members reiterate the critical importance of adhering to full compliance and the compensation mechanism. These compensation plans will be made in accordance with the declaration of the 15th OPEC+ Ministerial Meeting.
The 32nd OPEC and non-OPEC Ministerial Meeting will take place on 5 September this year.