The Angolan capital, Luanda
Angola’s OPEC departure runs deep
Luanda’s decision to leave the influential group surprised many observers but may have been coming for some time
Angola announced its decision to withdraw from OPEC on 21 December, effective 1 January, after 16 years of membership. In an official statement, sub-Saharan Africa’s second-largest oil producer said that it “needs to concentrate its efforts on implementing the strategies defined in the National Development Plan for the national oil sector”. Angola’s minister of mineral resources, oil and gas, Diamantino Azevedo, said OPEC’s allocation at the end of November of a 1.11m b/d production quota "was not taken unanimously and went against Angola's position”, with Luanda instead targeting 1.18m b/d in 2024. OPEC’s revised quota “would force Angola to cut its production by 70,000b/d”, the statement f
Also in this section
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
20 March 2026
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
20 March 2026
Disruptions to Qatari LNG exports have highlighted the risks of concentrated supply, potentially strengthening the long-term position of US exporters despite limited near-term flexibility
20 March 2026
The extent of the US-Israel war with Iran means there will be no going back to the previous market equilibrium no matter how the conflict ends
