Angola to Cut Exports to Bolster Oil Prices

From Reuters

Angola will cut oil exports by 5% in the second quarter as part of an effort by OPEC and non-OPEC nations to stabilize prices, an official of the Angolan state oil company Sonangol said.

“The cut would amount to about 20,000 barrels per day,” said the official who is in the company’s London office.

Several other non-OPEC countries have already announced similar cuts in a bid to boost sagging oil prices.