DRC Sees Positive Oil Price Rebound with 4.18% Weekly Increase in July 2023
After a period of slowdown observed on this market between May and June 2023, oil prices showed positive signs at the end of July 2023.
According to data from the Central Bank of Congo BCC, as of July 27, 2023, the price of a barrel of oil stood at 83.78 USD, recording a weekly increase of 4.18%.
The Central Bank of Congo justifies this evolution in particular by the influence of the voluntary reduction in the production of black gold by the member countries of the Organization of Petroleum Exporting Countries and its partners (OPEC+).
The same source also indicates that the increase in the price of a barrel of oil would be linked to expectations of an increase in interest rates by the American Central Bank (the FED).
