The oil production in Angola during July amounted to 30.9 million barrels, dropping below one million barrels per day for the first time since 2023, the year it left OPEC.
“Angola’s oil production for July was 30,961,452 barrels, corresponding to a daily average of 998,757 barrels of oil per day (BOPD) against a forecast of 1,073,542 BOPD,” according to the National Petroleum, Gas and Biofuels Agency, the Angolan regulatory authority in this sector.
Associated gas production during the same period “was 82,307 million cubic feet, corresponding to a daily average of 2,655 million cubic feet (MMSCFD),” the statement adds, reviewed today by Lusa.
The drop in production to less than one million barrels per day is occurring for the first time since the country exited the Organization of the Petroleum Exporting Countries (OPEC) in 2023, arguing at the time that the 1.2 million barrels per day quota imposed by the cartel was insufficient for the country’s needs.
This decline in production poses another issue for Angola’s public finances, which are also contending with a benchmark oil price below the $70 forecast in the budget, leading to a decrease in public revenue from exporting this primary resource.
According to the Ministry of Mineral Resources, Petroleum, and Gas, Angola exported 83.6 million barrels of crude oil in the second quarter of 2025, generating $5.6 billion in revenue, a reduction of 13.6% compared to the same quarter the previous year.
The volume of exported oil represents a 3.82% decrease from the previous quarter, still resulting in revenue of approximately 4.7 billion euros, and the gross export value in the second quarter saw a 12.5% decrease relative to the previous quarter, with a year-on-year reduction of 29.81%, as reported at the end of the last month.
Angola had anticipated exporting 1.07 million barrels daily in July, with a further reduction in exports projected from 1.09 million in September to 994,000 in October, according to preliminary cargo data reported by financial information agency Bloomberg.
