Angola’s ANPG Amends Oil Production Forecast

Angola’s National Agency of Oil, Gas and Biofuels has updated its historical graph of oil production and forecasting.

Notably, the forecast includes real production for 2019 and a revised production estimate for 2020, at 1.38 million barrels per day (bpd) and 1.28 million bpd, respectively.

The amended data takes into account the impact of production quotas implemented in May by the Organization of Petroleum Exporting Countries – in which Angola is a member – and that could last through April 2022.

Prior to the onset of COVID-19, Angola was set to see a rise in production to 1.4 million bpd.