Kinshasa, May 22nd, 2025 (CPA) – The price of a barrel of oil, one of the Democratic Republic of Congo’s export products, was set at 64.62 US dollars (USD) on the international markets during the week of May 9th to 16th 2025, compared to 63.30 USD the previous week, an increase of 2.1%, according to the Central Bank of Congo’s (BCC) economic situation note consulted by CPA on Thursday.
‘During the third week of May 2024, the price of oil rose by 2.1% on the international markets, trading at 64.62 US dollars a barrel compared to the previous period, when it traded at USD 63.30’, it is read. The source has also noted that during the week of May 2nd to 9th 2025, a number of fluctuations were observed on the commodities market, causing oil to rise by 0.92% to USD 63.30 a barrel, a fall of 14.94% compared with December 2024. The BCC pointed out that this rise was due to the easing of trade tensions between the United States and China and a global supply glut resulting from the significant increase in production by some OPEC member countries.
Prices of basic necessities
Moreover, the prices per tonne for rice, wheat and maize were down by 1.2%, 0.7% and 0.7% respectively compared with May 8th, 2025, at USD 278.81, establishing at USD 193.53 and USD 164.20 respectively. This situation, has said the source, is explained by favourable weather conditions. On a year-to-date basis, there were falls of 9.25%, 4.46% and 2.64%, in that order. 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.