Flash Note nº01

Dear subscriber [name],

We are sending our most recent Flash Note.

Highlights:

Angola's exit from the Organization of the Petroleum Exporting Countries (OPEC) was announced in the third week of past December, 16 years after its entry, to take effect from January 2024;
After the 35th OPEC meeting, in which each member's production quotas for 2024 were defined, Angola had a limit of approximately 1.28 mbd;
Our forecast for 2024 is more optimistic than the 1.06 mbd expected by the government - we expect production growth between the 0.3%-0.8% that is expected to put production slightly above what would be OPEC's share of 1.11mbd in 2024. Still, it is below the capacity claimed by the Angolan oil Minister, 1.18 mbd.

Best regards,
BFA

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