Angola’s oil production totals 1.6 million barrels per day

22 September 2014

Oil production in Angola currently stands at an average of 1.6 million barrels per day, at a time when the price per barrel on the international markets is around US$98, Angola’s Oil Minister said Friday in Luanda.

José Maria Botelho de Vasconcelos, speaking at the end of the Committee for the Real Economy of the Council of Ministers and cited by Angolan news agency Angop said that the price of Angola’s main export had been falling since August.

The minister also said that according to projections by December the price per barrel on the international market will remain close to US$98 and taking into account the average price from January to August the annual average should be around US$105.

The 2014 State Budget an average price per barrel of crude oil of US$96, up by nearly US$20 compared to the US$77 figure included in the previous budget. (macauhub/AO)