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OPEC member Angola says producer cuts insufficient, more action needed

Published 24/04/2020, 14:59
© Reuters.

LONDON, April 24 (Reuters) - Angola sees an oil production
curb by OPEC, its allies and other top producers as insufficient
to balance global markets, state news agency ANGOP quoted
resources and petroleum minister Diamantino Azevedo as saying on
Friday.
"It is up to everyone to understand that, despite the
measures taken by OPEC, oil producers in various countries
should be aware that they may be called to take more drastic
measures," Azevedo said.
"Because of the lack of storage capacity, continued
production is becoming unjustified," he added, referring to the
strained ability of global oil consumers to store up unwanted
oil amid economic lockdowns brought on by the coronavirus.

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