Angola’s oil production struggles amid changing dynamics with China
For over a decade, Angola has been a key competitor with Saudi Arabia in supplying oil to China. While it held the title of Africa’s largest oil producer between 2008 and 2010 and was the second-largest supplier to China during that period, its current output is now only half of what it was fifteen years ago. This decline, coupled with China’s increasing relationships with other suppliers, particularly from the Gulf region and Russia, has strained the trade ties between Angola and China. OPEC reports that Angola aims to maintain its crude oil production around one million barrels per day, seeking…