Kinshasa, May 9th, 2025 ( CPA ) – The weekly price of a barrel of oil, one of the Democratic Republic of Congo’s export products, has fallen by 6.7% in the week from April 25th to May 2nd 2025, trading at 61.4%, according to the economic situation report from the Central Bank of Congo (BCC).
In fact, the price of a barrel of oil was traded on the international markets at USD 66.22 the previous week, representing a significant fall of 6.7%, the lowest for three years. ‘the price of oil has stood at USD 61.4 a barrel, the lowest level for three years, a significant fall of 6.7% compared with the previous week, when it was traded at USD 66.22”, it is read.
The source has also noted that during the week of May 18th to 25th 2025, Several of fluctuations have been observed on the commodities market, also causing a fall of 2.4% of the oil barrel trading at USD 66.22, representing a fall of 11.0% compared with December 2024.. The BCC has pointed out that this fall was due in particular to a global supply glut resulting from the significant increase in production by some OPEC member countries in excess of the quotas they had set themselves within the organization. Compared with the situation at the end of December 2024, this price has fallen by 17.0%.
Prices of basic necessities
Prices per ton of rice, wheat and maize, at USD 288.30, USD 197.65 and USD 173.58 respectively, were down by 1.6% for rice and maize and 1.7% for wheat compared with the previous week. The source has explained that This situation, has explained the source, is attributable to bumper harvests of rice, wheat and maize, at a time when major consumers of these products are demanding less, as they are facing an economic slowdown or have introduced food self-sufficiency policies.
Compared with the end of December 2024, there has seen falls of 6.9% and 2.4% for rice and wheat, and a rise of 2.9% for maize. Indeed, the leaders of resource-rich, oil-exporting countries should also be considering policies that promote the energy transition, in order to meet the challenges of climate change. However, these variations have a direct impact on the Congolese economy, which is heavily dependent on exports of raw materials, particularly in the mining and agricultural sectors.