OPEC+ extends oil production to 1.3 million barrels per day in Angola

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The Organization of the Petroleum Exporting Countries (OPEC) and the group of ten allies decided this Wednesday to increase Angola’s production quotas until July of this year, extending production to 1.3 million barrels per day.

“For the month of May, Angola starts producing 1.283 mbpd (million barrels per day), rises to 1.298 mbpd in June and 1.319 mbpd in July,” reads a note from the Ministry of Mineral Resources, Oil and Gas, which holds the rotating presidency of this organization.

“The Chairman of the Joint Ministerial Monitoring Committee (JMMC) welcomed the positive performance of the Organization’s countries and announced that according to overall compliance, the production adjustments observed in March 2021, were 115 percent, reinforcing the trend of high compliance of these countries,” the statement further pointed out.

The next JMMC meeting and the 17th OPEC+ ministerial meeting will both take place on the same day, June 1st, it was also announced. Source: Ver Angola