Luanda: The price of Brent oil opened trading on Tuesday at USD 66.67 per barrel, following a previous close of USD 66.26, marking a 2.50% depreciation. This decline in Brent oil prices coincides with signs of progress in negotiations between the United States and Iran.
According to Angola Press News Agency, oil prices saw a drop of over 2% on Monday, attributed to developments in US-Iran talks. Brent oil futures fell by USD 1.70, or 2.5%, reaching USD 66.26 per barrel. Similarly, US West Texas Intermediate oil decreased by USD 1.60, or 2.5%, closing at USD 63.08 per barrel.
Brent oil is a key benchmark for Angola's oil exports. The country's budget for the 2025 financial year was based on a projected oil price of USD 70 per barrel, with an anticipated production rate of 1,098,000 barrels per day.
