Key Market Indicators
Angolan demand for crude oil is expected to decrease by 5.3% in 2021 compared to the previous year. This follows a downward trend since 2012, when demand was at its highest. Crude oil production in Angola is projected to reach 87.6 million tonnes of oil equivalent by 2026, representing a 0.5% average yearly growth since 1976. Angola is currently ranked 15th in the world, with Nigeria surpassing it in 2021 at 83.8 million tonnes. Saudi Arabia, the United States and Iraq are the world's second, third and fourth largest producers, respectively.
