Oil giant Eni, backed by the Italian government, said it discovered oil in offshore Angola.
It’s estimated to hold between 170 million and 200 million barrels of light oil in place.
The discovery came just after OPEC and other major producers agreed to cut oil production levels.
Eni, the state-backed Italian oil giant and 10th largest producer in the world by revenue, said it has made a new oil discovery in offshore Angola.
Markets Insider