Confirming a move which had been widely expected after the internal acrimony at the last OPEC+ meeting, moments ago Angola – also known as China’s gas station in Africa – announced it was leaving OPEC, the country’s news agency ANGOP reported on Thursday, quoting the African producer’s oil minister Diamantino de Azevedo.
The decision was taken at a meeting of the Council of Ministers, led by the President of the Republic, João Lourenço, the news agency noted. Jornal de Angola also reported the news.
As OilPrice notes , Angola and another African OPEC member, Nigeria, had a spat with the other cartel members before the latest meeting regarding their oil production quotas.
At a meeting in June, Angola and Nigeria were given lower crude oil production quotas as part of the OPEC+ agreement, after the two producers had underperformed and failed to pump to their quotas for years, due to a lack […]
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