Angola Sees Oil Output Rising Slightly in 2016

Angola Sees Oil Output Rising Slightly in 2016

Angola will produce an average of 1.89 mmbbl of crude oil next year, according to budget projections, slightly higher than current official production levels, Reuters reported.

Angola, a member of oil-producing group OPEC and a key oil supplier to China, has based its 2016 budget on an average oil price of $45 per day. The spending plan was presented to parliament on the 17th of November.

Africa’s second largest oil exporter forecasts total government debt will reach around 50% of GDP next year, up from 46% recorded last month.

 

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