Independent assessments of oil production capacity could reignite internal conflicts within OPEC ahead of its critical meeting this week.
As OPEC members are discussing their production policy for the rest of 2024, the group has also re-opened a debate over each producer's capacity to pump oil. These oil production capacities will become the basis for any output quotas under the OPEC deal for 2025, which has prompted several producers to push for higher estimates of their capacity.
At a meeting in June last year, Angola and Nigeria were given lower crude oil production quotas as part of the OPEC agreement after the two producers had underperformed and failed to pump to their quotas for years due to a lack of investment in new fields and maturing older oilfields. Angola is planning to maintain oil production above 1 million barrels per day, which is why it left OPEC, natural resources minister Diamantino Azevedo said early this year.
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