Angola Commodities November 2016

Angola

Angola: Cabinda oil price falls in November

December 9, 2016

In November, the average price of Angola’s Cabinda oil dropped 8.5% over the previous month, reaching USD 44.7 per barrel. On a year-on-year basis, the average oil price in November was 4.6% higher compared to the same month of the previous year.

More recently, on 8 December, the price of Angola’s Cabinda oil jumped to USD 51.5 per barrel, which was 19.1% higher than on the same day in November and 35.4% higher than on the same day last year. On a year-to-date basis, Cabinda oil prices have risen 47.0%.

FocusEconomics Consensus Forecast panelists expect oil production to reach 1.82 mbpd in 2017. In 2018, the panel sees crude output inching up to 1.94 mbpd.


Author:, Economist

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Angola Commodity November 2016

Note: Price of the OPEC oil basket in USD per barrel.
Source: Organization of the Petroleum Exporting Countries (OPEC).


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