Angolan Mining Oil & Gas

Oil traders (financial market investors seeking to profit from short-term operations, taking advantage of market volatility) are beginning to ignore the most important person in the market and it can be a risky move. Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, promised to unilaterally cut the country’s oil production in July to the lowest level in over a decade, excluding Covid-19 era restrictions. The Saudi described the move as a “lollipop.” While there have

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According to a report from UBS, the global wealth manager, Brent crude oil is expected to reach $95 a barrel by the end of 2023. UBS’s Chief Investment Officer for Global Wealth Management, Mark Haefele, stated that they consider oil to be their preferred investment and have revised their forecast upward from the current price of $77.90 per barrel. Haefele also recommended selling volatility in Brent crude oil and highlighted the appeal of longer-dated oil

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Oil fluctuated near stability during yesterday morning but held onto gains after the report on reserves from the United States last week, released by the Department of Energy (DoE). Additionally, the weaker dollar contributed to the movement. US oil reserves rose by 118,000 barrels last week, crude oil for August closed 1.13% higher at $72.45 per barrel on the New York Mercantile Exchange (Nymex), while Brent crude for August advanced 1.41% to $76.78 per barrel

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Kenya is keen on strengthening bilateral relations with Angola in various sectors, including energy, agriculture, and trade. During a visit to Angola in early June, Kenya’s Prime Cabinet Secretary Musalia Mudavadi and Minister of Foreign Affairs Alfred Nganga Mutua emphasized the importance of cooperation in driving domestic economic growth. They highlighted Kenya’s intention to leverage Angolan expertise to enhance investment, development, and intra-African trade. Discussions between Mudavadi and Angolan President Joāo Lourenço, as well as

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