Angola’s oil was the third most expensive in the world among 13 crudes from members of the Organisation of Petroleum Exporting Countries (OPEC), only surpassed by Algeria and Equatorial Guinea
According to OPEC’s monthly report published this week, among the 13 types of oil that make up OPEC’s reference basket, Angola’s Girassol crude reached US$127.03 in June. It also saw the biggest rise in monthly terms (11.5% compared to May).
In the first six months of 2022, Angolan oil was among the most expensive, with an average price of US$109.94 (US$65.29 in the same period of 2021).
Algerian oil (Sahara Blend) was the most expensive, with a barrel of oil at US$128.31, followed by oil from Equatorial Guinea (Zafiro), at US$127.10.
The average barrel price used as a reference by OPEC reached $117.72 in June, 3.4% above the previous month.
According to secondary sources cited in the report, OPEC-13 total crude oil production averaged 28.72 million barrels/day in June 2022, up 234,000 from the previous month.
Crude oil production increased mainly in Saudi Arabia, United Arab Emirates, Iran, Kuwait and Angola, while production in Libya and Venezuela decreased.
