Angola oil exports to rise to 1.68 million bpd in August

June 17, 2014 | Angola, Commodities & Oilprice

London, United Kingdom | – Africa’s second largest oil producer, Angola will have its crude oil exports rise to 1.68 million barrels per day in August, a provisional shipping list showed on Tuesday, their highest for six months as  a new grade came on stream.

August will have the highest level since February, which matched the 1.68 million bpd figure, according to Reuters data. This is up from a revised figure of 1.58 million bpd for July.

The 54 cargoes include four 1 million barrel vessels from the Total operated CLOV offshore field, the first time these cargoes have come to market.

A larger programme for August will put further pressure on prices, which have slid in the last month due to stiff competition from competing grades from other regions.