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Angola oil output set to rise above 2 mln bpd

Tue 16 Oct 2007, 11:58 GMT
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LONDON, Oct 16 (Reuters) - Angola's crude oil production is expected to rise above 2 million barrels per day for the first time in December as new fields come online and others ramp up output, trade sources said on Tuesday.

OPEC's newest member has set fresh record output highs in six of the last seven months, a rarity in the group.

Angola is set to export a record 1.95 million barrels per day of crude oil in December, up 150,000 bpd from its previous lifetime peak in November, according to monthly loading programmes.

Angola exports nearly all of its oil production, consuming only around 62,000 bpd domestically. As a result, output can be pegged at around 2.01 million bpd.

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