Oil production grows to 278,052 barrels in March

Angola’s crude oil production reached 30.059 million barrels in March this year, an increase of 278.52 thousand barrels compared to February.

Despite the rise, the country did not achieved the rate of the production expected of 1.067 thousand barrels of oil per day (BOPD).

It obtained a daily average of 969.64 thousand (BOPD), below the February results.

Data released by the National Concessionaire, the National Oil, Gas and Biofuels Agency (ANPG), put at 29.78 million the oil production in February, a daily average of 1.063 million barrels of oil (BOPD) against 1.142 million expected.

In the first three months of 2023, Angola exported 86.92 million barrels of crude oil at an average price of USD 78, 711 for a total value of USD 6.92 billion.

OPEC basket price

The basket price of thirteen crude oil of the Organisation of the Petroleum Exporting Countries (OPEC), was at USD 78,40 per barrel last Thursday compared to USD 81,12 of Wednesday.

According to the calculations of the OPEC Secretariat published Friday that ANGOP had access to, the price dropped to 2.72 USD.

The OPEC Reference Crude Basket (ORB) is made up of Saharan Blend (Algeria), Sunflower (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), as well as, Ax Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).

Source: Angola Press News Agency (APNA)