Angolan crude exports are scheduled to fall to 1.18mn b/d in July, nearly 70,000 b/d below the country's 1.25mn b/d Opec+ production quota for the July-December period, according to the provisional loading programme.
July's volume will load across 38 cargoes, down one from the 39 planned in June. A cargo less of Hungo, Pazflor and Saxi are expected in the month. Exports of Hungo and Saxi will decrease to 31,000 b/d, while Pazflor will drop to 61,000 b/d. No exports of Palanca are planned, while a cargo of the grade is scheduled in June.
Extra volumes of Saturno, Girassol and Nemba will partially offset the volume reduction. These grades will load 92,000 b/d, 97,000 b/d and 123,000 b/d in July, respectively. Loadings for the remaining 10 grades will be unchanged from June.
Angola had previously revised May and June loading volumes down to 1.27mn b/d and 1.25mn b/d, respectively. The tallies still appear substantially above the 1.18mn b/d production cap the country has to comply with over the May-June period. But it remains unclear whether actual production over the two months will correspond to the planned loading schedules.
Angola's state-owned Sonangol is listed as marketing eight cargoes in July, down from 12 in June. The July tally might still change as the final version has yet to be released.
