Angola: Angolan oil production decreases in February
Latest reading: Brent crude oil prices averaged USD 99.41 per barrel in March, up 43.2% from February. On 31 March, the commodity traded at USD 118.35 per barrel, up 63.1% from 27 February.
Turning to the production front, Angolan oil output fell to 1.01 million barrels per day (mbpd) in February from 1.04 mbpd in January, renewing the downward trend that began in November last year after a brief pause last month. February’s production undershot the 1.03 mbpd expected by national oil firm ANPG and moved further below the 2016–2025 average of 1.31 mbpd.