The price of Brent crude oil, which serves as a benchmark for Angolan exports, for October delivery closed today on the London futures market up 1.51%, at $68.75 per barrel — a level not seen since August 6. Over the past four sessions, according to Lusa, Brent has gained 4.5%, precisely in the period following the summit between the Presidents of the United States and Russia.
Market analyst Javier Cabrera noted that the intensification of Russian attacks in Ukraine is helping to prevent oil prices from falling.
It was also reported today that Saudi oil exports fell 15.8% year-on-year in the second quarter, nearly double the decline in the first quarter (8.4%), while other exports increased by 17.8%, totaling $62.43 billion (53.8 billion euros).
The Saudi General Authority for Statistics highlighted that China remains the country’s main trading partner, accounting for 14.2% of its foreign trade, followed by the United Arab Emirates (10%) and India (8.8%). The top ten trading partners also include South Korea, Japan, Egypt, the United States, Bahrain, Malta, and Poland.
Source: Jornal de Angola
