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Thu, 09 Apr 2020 12:10 - Updated Thu, 09 Apr 2020 12:10

Brent starts session in high on eve of OPEC meeting

London - Brent oil futures contracts, negotiated in London, opened the session in high amid the expectations around Thursday's OPEC meeting, set to decide the cut of at least 10 million barrels a day.

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Oil platform

Photo: Angop

In Thursday's session, oil started trading at USD 33.58, when at the close of Wednesday it already showed upward trends when it stood at USD 32.84.

Oil prices crumbled amid the coronavirus pandemic and oversupply in 2020.

On March 30, Brent, a reference for Angolan exports, was traded at USD 21.65 per barrel, the lowest level since 2002.

The current levels of crude oil prices negotiated in the international market have negatively affected the Angolan accounts, as the country's budget was prepared accordingly with the price of 55 dollars, a deficit of more than 20 dollars.

Thursday's videoconference meeting between members of the Organisation of Petroleum Exporting Countries (OPEC) and its allies, including Russia, is widely expected to be more successful than their gathering in early March.

Tags Petróleos  

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