Africa-Press – Angola. Angola produced, in January, a total volume of 36.611 million barrels of oil, with a daily average of 1,181 million barrels a day.
Compared to the month of December, 2021, there was an increase of 3 percent, after the production of 35.634 million barrels. Block 17 with a daily average of 390,026 barrels of oil per day (KBPD) was positioned as the largest producer in the period under analysis, followed by Block 32 with a production of 152,768 KBPD and in third place appears Block 0 with a daily production of 149,372 KBPD.
prices on the rise
Throughout the month of January, according to data from PetroAngola, there was a significant increase in the prices of a barrel of oil in international markets.
Brent, benchmark (reference crude oil) for Angolan crudes was traded at an average of USD 84.95/BBL, an increase of around USD 10.51/BBL compared to the monthly average of December, when there was a average price of USD 74.44/BBL.
In the period under review, Brent was traded at the highest price of USD 89.26/BBL, having reached a monthly average of USD 84.95/BBL, while WTI, a benchmark for the USA, reached the highest price USD 88.15/BBL and was sold at a monthly average of USD 82.32/BBL.
The market, according to the national consultant, is structurally in “backwardation”, that is, in retrogression, with spot sales being marketed above future sales. For the month in question, dated Brent was traded at USD 1.26/BBL above the value of future deliveries. The current market structure reflects concerns related to the short-term supply of oil in international markets.
Branches “Sunflower”
Sunflower was the highest valued Angolan crop in January this year, reaching the highest price of USD 90.78 per barrel of oil (BBL) and a monthly average of USD 86.05/BBL.
After Girassol follows the Cabinda branch, being the second best valued, reaching a monthly average of USD 85.28/BBL and the highest price of 91.65/BBL, according to the Monthly Bulletin on Petroleum published by the consultancy PetroAngola, resumed yesterday by the Angola Press Agency (Angop).
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