Angola petroleum minister says he supports maintaining OPEC+ oil cuts
Angola supports maintaining oil production curbs by OPEC and its allies, state news agency ANGOP quoted resources and petroleum minister Diamantino Azevedo as saying on Thursday, adding that he hoped to boost output next year.
“Continued cuts in oil output would benefit the Angolan economy and others, taking into account that the cuts would prompt a price hike in crude oil and provide more revenues for the country,” Azevedo said.
Angola plans to raise its oil production from 1.39 million barrels per day (bpd) to 1.44 million bpd in 2020, the minister added, still below the 1.48 million bpd target agreed with the Organization of the Petroleum Exporting Countries.
Source: Reuters (Reporting by Noah Browning; Editing by Jan Harvey)