The price of Brent crude oil, for October delivery, opened this Thursday on the London futures market at $66.99, representing an increase of $0.94 compared to the start of the previous session.
According to the specialized website Investing.com, North Sea crude in the last session traded within a daily range of $65.81 to $67.10, closing transactions at $66.84.
The same publication notes that today’s opening gains were driven by a larger-than-expected drop in U.S. stockpiles, while investors assessed the prospects of a possible peace initiative between Russia and Ukraine to gauge the supply outlook.
Brent crude is the benchmark oil for Angola’s exports.
Its price is used to establish the market sale value of the commodity internationally.
It also serves as a reference for the oil industry and for OPEC’s decision-making.
Angola’s 2025 State Budget (OGE) was prepared based on a price of $70 per barrel and an estimated production of 1.098 million barrels of oil per day.
Source: Angop
