The monthly report on the oil market for March also showed that based on direct communication, Angola’s oil production fell by 47,000 bpd to 1.423 million bpd.
Angolan oil production has remained stable at around 1.4 million bpd, ranging from December 2018 to February 2019 from a maximum of 1.484 million bpd to a minimum of 1.423 million bpd .
Angola led to oil production in Africa for practically the whole of 2016 and until May 2017, when Nigeria resumed its position as the main oil producer on the continent.
The agreement between the oil-producing countries to reduce production and push up the price of oil forced Angola to cut 78,000 bpd with effect from 1 January 2017 to a limit of 1.673 million bpd.
In February, according to secondary sources, Nigeria increased production by 10,000 bpd to 1.741 million bpd, and based on direct communication increased production by 85,000 bpd to a total of 1.731 million bpd. (Macauhub)