(3 Minutes Read)
Angola’s crude oil export earnings saw a steep drop in the first quarter of 2025, according to official data shared by the Secretary of State for Oil and Gas, José Barroso. Speaking on Thursday, Barroso revealed that the country earned USD 6.4 billion during the period—a decline of 18% compared to the same time last year.
Between January and March, Angola shipped 85.14 million barrels of crude oil, representing a 13.5% fall from the last quarter of 2024 and a 9.8% year-on-year decrease. China continued to be the top buyer of Angolan oil, followed by India, Indonesia, Spain, and Malaysia.
Barroso attributed the decline to price instability in Brent crude, weaker global demand, higher trade tariffs, and expectations of further U.S. interest rate hikes—all of which exerted downward pressure on oil prices and strained Angola’s fiscal outlook. Oil exports are Angola’s main revenue stream, but current global prices have dipped below the USD 70-per-barrel benchmark used in the country’s 2025 budget, creating notable fiscal risks.
Read Also:
http://trendsnafrica.com/5th-angola-oil-gas-conference-bring-45-countries-to-luanda/
A report republished by Angola24Horas underscored fears over lasting trade tensions stemming from policies introduced under former U.S. President Donald Trump. Analysts quoted in the piece warned that these tensions are weighing on Angola’s economy by suppressing oil demand and sustaining low prices. With Angola’s economic stability tightly linked to oil performance, external market shifts and geopolitical uncertainty remain key challenges for the government as it navigates a turbulent global landscape.
Arabic
Chinese (Simplified)
Danish
English
French
Hindi
Italian
Norwegian
Portuguese
Russian
Spanish
Swedish