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Chart of the Day: Is Angola Increasing its Crude Oil Production/Exports?

Summary

Figure (1) above shows Angola’s average monthly crude oil exports since the beginning of 2022.   The graph shows its exports have been relatively flat for more than a year. 

EOA’s Main Takeaway

Supposedly, Angola left OPEC because leadership thought the nation’s production was going to increase far above its OPEC quota. But data does not support this view. 

Today Bloomberg published a story titled: Angola’s Rising Oil Exports Validate Decision to Quit OPEC

Here is a copy from Yahoo:  Angola’s Rising Oil Exports Validate Decision to Quit OPEC

It shows the following chart. Notice the expected increase in August:

The title and story are misleading for two main reasons: