Without an immediate impact on the Angolan economy, what is certain is that the price of a barrel of Brent oil, for delivery in October, rose by more than 10 dollars in the period from June to July, at a time when national production fell in June. Economist defends that it will be difficult to reach the price of 120 dollars per barrel as in other times
The cuts that are being operated by members of the Organization of Petroleum Exporting Countries (OPEC) have begun to have an impact on the valuation of the raw material. Saudi Arabia unilaterally decided to reduce its oil production by 1 million barrels per day, a decision that had already been taken by OPEC members in a meeting. This is a measure that should remain in effect until next year.
As a result, the first month of the second semester (July), which ended yesterday, ended with an appreciation of the barrel of oil that reached 85 dollars. In any case, it was far from the previous period of last year when oil reached an all-time high, having surpassed the barrier of 130 dollars per barrel. Although the picture is not better compared to the previous year, what is certain is that the price of “black gold” remains above the forecast in the current State Budget, which is forecast at 59 dollars per barrel. Compared to June, a barrel of Brent, which serves as a reference for Angola’s exports, recorded gains of US$10 and 43 cents.
