The National Oil and Gas Agency (ANPG) reports a contraction in oil production during the second quarter of 2025, with a decline of approximately 10% compared to the same period last year, totaling 1.0 million barrels per day, highlighting the structural downward trend in crude oil production, analysts note.
In a commentary on the evolution of Angola’s economy, sent to clients and accessed by Lusa, Banco Fomento Angola analysts state, “Natural gas production, which had grown by 3.3% in the first quarter, reversed course and fell by 8% in the same quarter,” indicating the period from April to June this year compared to the same period in 2024.
“Based on these results, we estimate that the oil sector as a whole contracted by approximately 10.2% in the second quarter of 2025,” the analysts conclude.
Angola exited the OPEC (Organization of the Petroleum Exporting Countries) in December 2023 due to a disagreement over production quota limits set at 1.17 million barrels per day.
At that time, the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated that the decision was made after careful consideration and that Angola no longer saw advantages in remaining in OPEC, especially with the production limitations imposed by the organization.
Since 2023, Angola has been unable to exceed an average production of 1.1 million barrels per day.
Angola joined OPEC in 2006 and has since been one of the main oil producers in sub-Saharan Africa.
