Luanda – Angolan government expects a real growth of 1.6% for the oil sector, including gas, while for the non-oil sector the projections points to an increase of around 3.1% by 2022
The production in 2020 was deemed negative standing at 8.3%, and this year, so far, it is 6.2%.
The oil sector, including oil and gas production, has been experiencing successive declines in recent years.
According to the Report on the Budget 22, the sector is expected to reach an average daily oil production of 1 147 9 barrels, against the current 1 140 4 barrels.
After all, the annual oil+gas production could reach 553.2 million barrels.
The Executive foresees that the levels of uncertainty characteristic of the oil sector will remain, thus forecasting the reference price of oil at USD 59 per barrel, against the current USD 39 of the 2021 State Budget.
This price, according to the Report on Budget 22, is considered conservative, as the Executive is striving to improve the country’s macro-fiscal programming.
As for the next few years, some uncertainties still revolve around the price of this commodity.
This uncertainty is confirmed by the divergence of opinions on the trajectory of the price of a barrel of oil in the international market for 2022.
The US Energy Information Administration (EIA-US) forecast, in October of this year, 2021, the average price of a barrel in 2022 to be USD 71.91, Goldman Sachs at USD 80, Batclay’s Bank at USD 77.
The forecast of the OECD-Organisation for Economic Cooperation and Development, until October this year, hovered at USD 65, while for the International Monetary Fund (IMF) the expectation was USD 63.04.
Morgan Stanley appears with the forecast made in the month of September of the oil price, for 2022, to be fixed at USD 85, and the World Bank at USD 60, according to the projection made in the month of April of this year, 2021 .
For diamonds, within the framework of the macroeconomic assumptions that were at the basis of the elaboration of the State Budget 22, a production of 10.5000 carats is expected, at an average price of 184.6 per carat, against 9.1 million carats in 2021.
Source: Angola Press News Agency