Oil exports from Angola expected to fall in March

19 January 2010

London, United Kingdom, 19 Jan – Angolan oil exports are expected to fall in March despite remaining above the quota set by the Organisation of Petroleum Exporting Countries (OPEC), Reuters reported citing London brokers.

According to the brokers, Angola is expected to export 1.79 million barrels of oil per day in March, which is a drop against the 1.88 million barrels per day contracted for February.

The calendar of exports is known months in advance although there are sometimes changes, such as in February when two shipments were added recently taking exports from 1.81 million barrels to 1.88 million barrels per day.

Despite the fall expected in shipments for March, Angola’s production remains above the quota set by OPEC, Reuters said.

The news agency said that Angola’s declare production is 1.656 million barrels per day, but cites an internal OPEC document that shows Angola’s official quota to be 1.52 million barrels per day. (macauhub)