DRC Oil Prices Rise 2.91% Amid Commodity Fluctuations
The price of a barrel of oil, a key export for the Democratic Republic of Congo (DRC), saw a 2.91% increase, trading at USD 74.52 during the week of September 13–20, 2024. This marks a notable rise from the previous week, as reported by the Central Bank of Congo (BCC).
According to the BCC’s economic report, oil prices on the international market had earlier shown fluctuations, with the week of September 6–13, 2024, witnessing a slight 0.92% drop, bringing prices down to USD 72.41 per barrel. This is a 7.87% decrease compared to December 2023 levels.
Copper, another significant export for the DRC, recorded a price increase of 3.40%, reaching USD 9,556.00 per tonne, reflecting a 12.02% rise since the end of the previous year.
Cobalt prices also showed a modest 0.15% weekly increase, settling at USD 23,792.00 per tonne, though this is still 27.35% lower than December 2023 levels.
On the agricultural side, the prices of wheat and corn saw declines of 1.93% and 0.66%, respectively, with wheat trading at USD 209.60 per tonne and corn at USD 149.60 per tonne. In contrast, rice prices rose by 1.84%, trading at USD 341.61 per tonne.
