A barrel of Brent crude, the benchmark for Angola’s oil exports, opened this Friday’s trading session at $67.46 on the London futures market, after closing Thursday’s session at $67.44, down by $0.75.
In the previous session, North Sea crude for November delivery traded within a range of $67.19 (low) and $68.42 (high), according to the specialist website Investing.com.
Oil prices posted a subdued weekly performance amid growing concerns about slowing demand in the United States and a potential supply surplus in the coming quarters.
The Brent price is used to set the trading value of this commodity on international markets. It also serves as a benchmark for the oil industry and for OPEC’s decision-making.
Angola’s 2025 State Budget was drafted based on a reference price of $70 per barrel and an estimated daily production of 1.098 million barrels of oil.
Source: Angop
