Source link Several members of OPEC affirmed on Saturday their commitment to the organization and its objectives after Angola decided to quit the group. The African nation announced earlier this week that membership in OPEC no longer served its interests. The move came after the cartel asked Angola to cut production by 1.1 million barrels […]
Source link Angola is leaving the Organization of the Petroleum Exporting Countries (OPEC) because membership is not serving its interests, Oil Minister Diamantino Azevedo announced on Thursday. The African nation, which joined the alliance in 2007, reportedly produces about 1.1 million barrels of oil per day (bpd), compared with 28 million bpd for the whole […]
Source link Brazil will become part of the alliance of major crude exporters in January, the country’s energy minister has revealed Brazil is set to join the OPEC+ group of the world’s largest oil-producing countries from January 2024, Energy Minister Alexandre Silveira announced on Thursday. Led by Saudi Arabia and Russia, OPEC+ comprises the Organization […]
Source link The OPEC+ group of major oil-producing countries led by Russia and Saudi Arabia agreed to deepen production cuts to about 2.2 million barrels per day (bpd) at a meeting on Thursday, according to a statement from the delegates. The group, which accounts for over 40% of global crude production, met to discuss next […]
Source link Angola and Nigeria are reportedly demanding that the organization lets them produce more oil Two African members of the OPEC+ group of oil-producing countries, Angola and Nigeria, have defied the organization’s plans to cut output and demanded that their production quotas be raised, Reuters reported on Thursday. An ensuing dispute forced OPEC+ member […]