Luanda – OPEC+ (Organisation of Petroleum Exporting Countries and allies) announced plans to cut oil production by 2 million barrels per day by November.
The decision was announced on Wednesday and taken “in light of the uncertainty surrounding the global economic outlook and the oil market (…)”, OPEC has said.
OPEC, the group of the largest producers in the world, led by Saudi Arabia, said that this is the most intense cut since the beginning of the pandemic, in 2020, made by the group.
Until November 2021, Angolan oil production stood at 374.8 million barrels, an average of 1.1 million barrels per day (bpd).
Source: Angola Press News Agency