Angola, Africa ’s biggest oil producer after Nigeria, plans to increase output to 2 million barrels a day by 2017, according to Finance Minister Armando Manuel. That would be two years behind an earlier target. Angola will budget next year for oil prices from $88 to $92 a barrel, said Manuel, who is urging the Organization of Petroleum Exporting Countries to take steps to avoid more declines. Brent is down 16 percent this year in London, the most since a 51 percent drop in 2008. Manuel’s comments in an interview in Washington D.C. yesterday indicate a delay in meeting a target expressed repeatedly by Petroleum Minister Jose Maria Botelho de Vasconcelos. He has said the goal of 2 million barrels a day will be reached in 2015, helped by projects including Eni SpA’s West Hub in Block 15/06, which is scheduled to begin this year. “Although we face a […]