various consequences

Nigeria, Algeria, Gabon, DRC… Winners and losers in the oil price slump

By Maher Hajbi

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Posted on March 27, 2023 09:31

Petrol prices Deep offshore in Girassol, Angola. ©GONZALEZ THIERRY/TOTAL — Deep offshore in Girassol, Angola. ©GONZALEZ THIERRY/TOTAL

From its highs at the start of the war in Ukraine, the price of a barrel of oil has fallen to below $75. This downward trend is set to continue, with various consequences for African countries.

After a highly volatile year in which the barrel approached $140, Brent crude oil fell in mid-March to $72.2 and West Texas Intermediate to $65.8, their lowest levels since December 2021.

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