In the past seven days, Brent oil has been sold on international markets for between $85 and $86 per barrel. This price stability above $80 has persisted for more than 15 days, following a price of $79.34 per barrel on June 7th.
Before June 7th, Brent oil remained around $70 per barrel for four consecutive sessions. Over the past month, the highest price for a barrel of Brent was $86.50, recorded this past week, while the lowest was $76.66 on June 4th.
As an oil-exporting country, Angola benefits from price stability, with higher prices providing greater access to foreign exchange.
In its 2024 State Budget (OGE), Angola set a reference price for oil at $55 per barrel. In January 2024, Brent was priced around $82.44 per barrel, $83.62 in February, $87.48 in March, $88.40 in April, and $83.60 in May.
Overall, the price behavior indicates a stable trend around $80 per barrel.
