Angola Commodities December 2017

Angola: Cabinda crude oil continues upward ascent in January

The average price of Angola’s Cabinda crude oil rose from USD 63.2 per barrel in November to USD 64.8 per barrel in December. December’s print was 21.5% higher year-on-year and 2.5% above the average price observed in November. The monthly reading marks the highest price since November 2014.

Oil prices continue to be supported by strong market fundamentals for the commodity. Demand has increased on improved health of the global economy with developed and developing economies expanding at a healthy pace. Likewise, strong compliance among the countries participating in the OPEC and non-OPEC oil output cut deal has also helped to lower existing stockpiles of the commodity and push prices higher. Ongoing geopolitical tensions in the Middle East, particularly protests in Iran in early January, have pushed prices higher.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest