Angola’s quota for oil output lowered to 1.6mln barrels a day this year

The state-controlled oil company Sonangol will deliver 1.6 million barrels a day, the Angop news agency reports.

This year’s production quota is 78,000 barrels a day less than the previous reference output rate set by the Organisation of the Petroleum Exporting Countries (OPEC).

Sonangol said the reduction was part of the OPEC consensus to cut production to 32.5 million barrels a day from 33.7 million barrels daily.

Angola is one of 13 members of OPEC, an intergovernmental organisation that represents more than 40 percent of global oil production.