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.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
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.
- 12/03/2020 13:34:00
Luanda - The National Agency of Petroleum, Gas and Biofuels (ANPG) is to meet with national oil companies on March 25 to discuss issues related to the bidding process for oil exploration in the onshore and Lower Congo and Kwanza basins.
- 11/03/2020 13:51:18
Luanda - Angola and Equatorial Guinea will re-launch cooperation in the field of oil and gas, as part of the strengthening of ties between the two countries.
- 10/03/2020 11:58:53
Luanda - The sale of foreign currency from the oil and gas sector to commercial banks in February this year was around USD 279 million, for a total of 90 transactions, resulting in a weighted average rate of USD/KZ 504,60.