Angola Commodities December 2016

Angola

Angola: Cabinda oil price rises in December

January 18, 2017

The average price of Angola’s Cabinda oil recovered in December, reaching USD 53.3 per barrel, which was 46.3% higher than the same month of the previous year. In December, Angola’s oil production remained flat at 1.7 million barrels per day (mbpd).

More recently, on 17 January the price of Angola’s Cabinda oil was USD 54.5 per barrel, which was 0.9% higher than the same day of December and 102.3% higher than on the same day last year. On a year-to-date basis, Cabinda oil prices have dipped 0.6%.

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 December 2016

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


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