Angola to quit OPEC over oil production output limit
Angola says it has concluded plans to quit the Organisation of Petroleum Exporting Countries (OPEC) over the global petrol governing body’s decision to lower the country’s petroleum output target starting from 2024.
According to Angop, an Angolan news outlet, the minister of oil resources, Diamantino de Azevedo, announced the country’s decision to leave OPEC following a Council of Ministers led by Angolan President Joao Lourenco.
“We feel that at this moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave,” Angop quoted Mr Azdvedo on Thursday.
Angola’s planned withdrawal from OPEC is due to last month’s decision by the oil-producing bloc to lower the Central African country’s daily production output to 1.11 million barrels starting next year.
The country was displeased by the decision, with the Angolan oil minister reportedly sending a note of protest in response, VOA reported.
According to the data from the CEIC economic firm, as of October, Angola averaged about 1.6 million barrels daily.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 3
Prioritise trauma healing for rescued Oyo hostages, Catholic bishops tell FG, Oyo govt
The bishops also called on citizens to be vigilant and work with vigilance groups to ensure miscreants no longer terrorised communities.
NationWide
Rights activist Okei-Odumakin hails Soyinka’s enduring global contributions @92
Mrs Okei-Odumakin stated, “Prof. Soyinka’s life is a summary of Nigeria’s tempestuous history.”
States
Lagos commissioner praises Tinubu, Oyo govt, security agents over pupils, teachers’ rescue
The commissioner urged school administrators and communities to strengthen school security infrastructure.
Hot news Home top
Norwegian Air changes logo to British Airways after losing World Cup bet
The 2026 World Cup marked a historic milestone for Norway because it’s the first time the Scandinavian nation reached the tournament’s quarter-finals.
Heading 5
Alleged Fake Agency: Police to arraign PFIPC DG Adeniyi Adeyemi Tuesday
Mr Adeyemi was alleged to have operated the fictitious agency from the 2nd Floor of the Federal Secretariat Complex in Abuja, Phase III, before his arrest.
