OPEC secretary-general travels to Angola to analyze oil production quota

15 August 2007

London, United Kingdom, 15 Aug – The secretary-general of the Organization of the Oil producing Countries (OPEC), Abdulla al-Badri, is due this month to travel to Luanda this month to analyze alongside the Angolan authorities the setting of a production quota for the cartel’s most recent member.

According to an OPEC source, Badri and Angolan oil minister, Desidério Costa are expected to meet for two days in the last week of August.

Last June, Badri said that OPEC members would analyze the setting of output targets for Angola when they met in September in Vienna or during another meeting due to take place in March 2008.

Analysts are of the opinion that OPEC will set a production quota for Angola when the country reaches an output of 2 million barrels of oil per day.

Angola, which joined OPEC last January, has daily production of around 1.76 million barrels. (macauhub)