Oil exports from Angola are slumping and the International Energy Agency says aging fields and a lack of interest from foreign investors mean the worst is yet to come.

Shipments from the OPEC state will average 1.52 million barrels a day in the January-April period, the weakest start to a year in terms of outflows since Bloomberg began collating loading monthly programs back in 2008. The West African country, which exports the vast majority of what it pumps, is struggling to entice foreign investment as some of its older fields start to mature, according to the IEA, an adviser to most of the world’s oil-consuming states. Whether by luck or design, the decline means the country -- alongside Venezuela -- has been among the most compliant with an OPEC-led drive to cut oil supplies and eradicate a global glut of inventories. 

Source: Bloomberg