https://en.sputniknews.africa/20231201/angola-disagrees-with-reduction-of-opec-oil-output-quota-source-reveals-1063885325.html
Angola Disagrees With Reduction of OPEC+ Oil Output Quota, Source Reveals
Angola Disagrees With Reduction of OPEC+ Oil Output Quota, Source Reveals
Sputnik Africa
MOSCOW (Sputnik) - Negotiations between the heads of OPEC+ delegations have been delayed because Angola did not agree with the proposed oil production quota... 01.12.2023, Sputnik Africa
2023-12-01T13:25+0100
2023-12-01T13:25+0100
2023-12-01T13:25+0100
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OPEC+ said in the official communique following the ministerial on Thursday that Angola's quota for production in 2024 will be reduced by 180,000 bpd from the June-agreed level to 1.11 million bpd.The quotas for two other African members of OPEC+, Congo and Nigeria, were increased by 1,000 bpd and 120,000 bpd, respectively.Major oil-producing nations Saudi Arabia and Russia on Thursday announced they would further slash production in an effort to prop up volatile prices following an OPEC+ meeting.Moreover, it was declared that Brazil would join the OPEC+ alliance in January 2024, and the oil cartel's next ministerial meeting would be held on June 1 in Vienna.
https://en.sputniknews.africa/20230605/what-is-outcome-of-opec-meeting-for-africa-1059719254.html
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angola, opec+, nigeria, republic of the congo (congo), oil, west africa, southern africa, central africa, south america, brazil
Angola Disagrees With Reduction of OPEC+ Oil Output Quota, Source Reveals
MOSCOW (Sputnik) - Negotiations between the heads of OPEC+ delegations have been delayed because Angola did not agree with the proposed oil production quota for 2024, a source in one of the delegations told Sputnik.
OPEC+ said in the official communique following the ministerial on Thursday that
Angola's quota for production in 2024 will be reduced by 180,000 bpd from the June-agreed level to 1.11 million bpd.
"Angola disagrees with the level [of quota]," the source said.
The quotas for two other African members of OPEC+, Congo and
Nigeria, were increased by 1,000 bpd and 120,000 bpd, respectively.
"Noted that, in accordance with the decision of the 35th OPEC and non-OPEC Ministerial Meeting, the completion of the assessment by the three independent sources (IHS, Wood Mackenzie and Rystad Energy) for production level that can be achieved in 2024 by Angola, Congo and Nigeria as follows: Angola at 1,110 t/bd, Congo at 277 t/bd and Nigeria at 1,500 t/bd," the communique added.
Major oil-producing nations
Saudi Arabia and Russia on Thursday announced they would further slash production in an effort to prop up volatile prices following an OPEC+ meeting.
Moreover, it was declared that Brazil would join the OPEC+ alliance in January 2024, and the oil cartel's next ministerial meeting would be held on June 1 in Vienna.
