The price of a barrel of Brent oil, a reference to Angola’s exports, starts the week at US$93.50, holding a positive daily variation of 1.21 percent from US$1.12 above the previous close.
The data from PetroAngola, which controls four different types of oil in the Angolan supply to the markets, points out that the Girassol branches have a price of US$92.86; Dália appears with 88.86 dollars; Nemba at US$88.88 and Cabinda at US$92.58. According to PetroAngola, the OPEC (Organization of Petroleum Exporting Countries) benchmark basket has a price of US$97.30. Data reveals that the OPEC+ alliance increased oil production by 170 KBPD in September to the group’s highest level since April 2020, but remains timid from pre-pandemic levels, with several members producing massively below the approved quota.
The 13 OPEC members produced 29.75 MBPD, an increase of 190 KBPD from August, while Russia and 8 other allies added about 13.26 MBPD to the market, representing a drop of 20 KBPD. PetroAngola will hold, on 19 November, in one of the hotels in Luanda, the “Angola Oil & Gas Awards 2022”, in the literal translation “Award for operators in the oil and gas sector of Angola”, whose vote for eight (8 ) contested categories are still open.
