The price of a barrel of Brent, a global benchmark for oil, fell to USD 72.65 on December 19, 2024, recording a weekly drop of 1.53%, according to the Weekly Conjuncture Note published by the Central Bank of Congo (BCC). ). This decrease is attributed to signs of slowing economic growth in the United States, impacting global demand.
Brent, a light crude oil extracted mainly from the North Sea, is used as a benchmark in international markets. The Democratic Republic of Congo, although it is an oil producer, does not exploit Brent. Its oil production is mainly based on the Perenco company, with annual production estimated at 8.4 million barrels in 2022.
Despite the presence of oil resources, the contribution of revenues from the oil sector remains limited in the DRC. The revenues of oil producers collected by the General Directorate of Taxes (DGI) and the General Directorate of Administrative, Judicial, State and Participation Revenue (DGRAD) stood at 299.80 billion CDF in 2023, marking a low contribution to the national budget.
In contrast, current revenues outside the oil sector have experienced sustained growth, reflecting increased dependence on other tax sources to support the economy. This dynamic highlights the structural challenges that the Congolese oil sector must address to maximize its economic potential.
