Angola exported 96.37 million barrels of oil in the third quarter, worth 8.26 billion dollars, with China being the main destinationo.

According to the Secretary of State for Oil and Gas, José Barroso, who presented the data on Wednesday, China bought 63% of Angolan oil, followed by Spain (9%), France and the Netherlands (with around 5% each), with an average price of 86.748 dollars per barrel.

José Barroso, quoted by Angolan news agency Angop, said that the increase in the price of oil had to do with various factors, above all the extension of production cuts by the Organization of Petroleum Exporting Countries (OPEC+) until the end of 2023.

Saudi Arabia's decision to cut production by around two million barrels a day has also contributed to reducing the supply of crude oil on the international market, in contrast to the increase in demand from China, Europe and the United States.

"We started the quarter with a price of 76 dollars per barrel and ended it at 98 dollars, [which] was generally positive for crude exports, especially Angolan crude," said the Secretary of State in Luanda.

As for gas, exports in the third quarter of 2023 totaled around 1.20 million metric tons, of which 78,70% related to the export of liquefied natural gas (LNG), mostly to Europe.

The value of gas sales was 19% higher than in the previous quarter, as a result of the rise in gas prices on the international market.