The National Fuels Society of Angola - Sonangol E.P. informs that from January 1, 2017, the maximum daily output of Angola is set at 1.673 million barrels of crude oil.
This measure results from the agreement among OPEC member countries held on November 30th, 2016, to reduce crude oil production from 33.7 million barrels to 32.5 million barrels per day in order to increase the price of a barrel of crude oil in the international market . The daily production cut for Angola is 78,000 barrels compared to the reference value considered by OPEC of 1,751,000 barrels per day.
Therefore, Sonangol formally instructed the different operators in Angola on the monthly production limits per concession, based on the current production potential of each one of them and the programming of interventions in them.
Communication and Image Department of Sonangol EP in Luanda, January 6, 2017.