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
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
