Luanda Aug. 21, 2025 (Lusa) - Angola's oil production in July totalled 30.9 million barrels, falling 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 (BOPD) against a forecast 1,073,542 BOPD," reads the website of the National Oil, Gas and Biofuels Agency, the Angolan regulator of this sector.

Production of associated gas during the same period totalled 82,307 million cubic feet, corresponding to a daily average of 2,655 million cubic feet (MMSCFD), the same note, consulted on Thursday by Lusa, added.

The drop in production to less than one million barrels per day is the first time since the country left the Organisation of the Petroleum Exporting Countries (OPEC) in 2023, arguing at the time that the limit of 1.2 million barrels per day imposed by the cartel's quota was too low for the country's needs.

The fall in production is yet another problem for Angola's public finances, which are also facing a reference price for oil below the $70 forecast in the budget, and hence the reduction in public revenue from the export of this raw material.

According to the Ministry of Mineral Resources, Oil and Gas, Angola exported 83.6 million barrels of crude oil in the second quarter of 2025 and earned $5.6 billion, a reduction of 13.6% compared to the same quarter last year.

The volume of oil exported represents a decrease of 3.82% compared to the previous quarter, but is still worth around €4.7 billion. The gross value of exports in the second quarter fell by 12.5% compared to the previous quarter and by 29.81% year on year, according to figures presented at the end of last month.

Angola had planned to export 1.07 million barrels a day in July, and is also forecasting a reduction in exports, from 1.09 million in September to 994,000 in October, according to preliminary cargo data, reported by financial information agency Bloomberg.

MBA/ADB // ADB.

Lusa