Angola

Submitted by Rakesh Upadhyay via OilPrice.com,

OPEC-member Angola, which is dependent on oil for 95 percent of its export revenues, is facing an urgent cash flow problem, and the only way out is external help as the dominoes start to fall.

Two months ago, when looking at the latest basis spreads, we showed that a disturbing development, first flagged here in March, was getting worse: namely the "Global Dollar Shortage Intensifies To Worst Level Since 2012."