The OPEC-Angola discussions that took place last week is a major pillar of the strong dialogue and cooperation between OPEC and African producing nations. The Chamber (EnergyChamber.org) welcomes these discussions and encourages more collaboration as Angola and others will benefit from market stability.
The OPEC-Nigeria Bilateral Meeting that took place last week has sent yet another signal of the strong dialogue and cooperation between OPEC and Africa’s biggest producing country.
Crude oil prices are expected to average $66 a barrel in 2019 and $65 a barrel in 2020, a downward revision from the October forecast due to the weaker-than-expected global growth outlook and greater-than-anticipated U.S. production, the World Bank said.
After a year of rebound and recovery, Africa’s old and new hydrocarbons markets have an opportunity to further entrench the continent’s position as the world’s hottest oil and gas frontier in 2019.
For Congo, the country will sit side-by-side with key oil giants, like Saudi Arabia and Venezuela; as well as Gabon, Angola, Nigeria and Equatorial Guinea, further reinforcing the strength of African voices amongst the cartel.