Angola's Oil Windfall Deepens Inequality as Brent Nears $87 and Half Live Under $3.65 a Day
Updated
Updated · The Washington Post · Jul 31
Angola's Oil Windfall Deepens Inequality as Brent Nears $87 and Half Live Under $3.65 a Day
1 articles · Updated · The Washington Post · Jul 31
Summary
Brent at about $87 a barrel has boosted Angola's oil income well above the $61 assumed in its 2026 budget, giving the government extra cash as the U.S.-Iran war disrupts global markets.
That windfall has not eased pressure on poor households: food, fuel and fertilizer costs have climbed, and vendors in Luanda said pepper wholesale prices have quadrupled since February while daily earnings often stay below $2.50.
Oil dominates Angola's economy—about 30% of GDP, 65% of government revenue and more than 95% of physical exports—so higher crude prices mainly benefit the ruling elite and well-connected exporters.
Officials say they are using the revenue to pay down debt, build food and medicine stocks and curb inflation, but residents in impoverished neighborhoods say they expect none of the gains to reach them.
With half of Angola's 40 million people living on less than $3.65 a day and a presidential election due next year, the war-driven oil surge is sharpening anger over poverty and corruption.