Luanda: The price of Brent crude, which serves as a benchmark for Angola’s oil exports, opened at USD70.96 on March 13 in the international market. This marks a slight increase of USD0.28 compared to its previous opening.
According to Angola Press News Agency, the futures markets for crude oil, with deliveries scheduled for May, concluded their trading session on Wednesday at USD70.95 per barrel. The session witnessed a minimum price fluctuation ranging from USD69.48 to USD71.10, as reported by the specialized website ‘investing.com’.
The current Angolan State Budget was formulated with an oil price assumption of USD70 per barrel, paired with an anticipated production rate of 1,098,000 barrels of oil per day.