There seems to be a point of saturation when it comes to assessing Angola’s crude exports for the upcoming months – beyond a certain point it serves as no surprise that the forthcoming month is going to set another multi-year low. Yes, Angola did voluntarily commit to capping its oil production and yes, the future seems to be brighter than the present state – all the more so as many of President Lourenço’s endeavors to render Angola’s upstream sector more business-friendly and streamline Sonangol’s business structure will inevitably bear fruit in the longer term. As dire as today’s exports might seem to be, Luanda can harbor genuine aspirations for the country’s offshore ultra-deepwater, the linchpin of its future crude production growth. This year will mark the fifth consecutive year that Angola’s production decreases, in the past 5 years it has slid by an average of some 7% annually. Crude […]