Angola to Ramp up Diamond Output Due to Oil Price Slump?

Finance and Trade
20/10/2015 08:06

With global oil prices at $40 to $50 per barrel and international natural gas prices dropping, Angola's national budget is under strain in a country where more than half of the population lives on $2 a day, raising the specter of political turbulence. Consequently, the country's rulers may decide to raise diamond production in a bid to fill the country's coffers, according to an analysis in Namibia's Windhoek Observer. However, given the weak state of global diamond markets, Angola is unlikely to find much room to raise funds by selling more diamonds.