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Angola leaves OPEC

Luanda, Dec 21 (Prensa Latina) Angolan Minister of Mineral Resources, Oil and Gas Diamantino Azevedo announced his country's withdrawal from the Organization of Petroleum Exporting Countries (OPEC) on Thursday.

At the 10th Ordinary Meeting of the Council of Ministers, chaired by President João Lourenço, the minister informed about the Government’s decision, Jornal de Angola reported.

On November 30, Angola protested against the crude oil production quota assigned by the OPEC for 2024, a period for which they established a production of 1.11 million barrels of crude oil per day, defined on the basis of secondary sources.

This order was contrary to the proposal previously made by the country, which had planned to extract 1.18 million barrels of oil per day, an aspect that motivated the disagreement and the statement that Angola would continue with its plans.

Angola has been a member of the organization for more than 16 years and during that period, it has fully complied with all obligations within the OPEC, which is why it considered its protest appropriate.