Oil producing country, Angola, a key member of the Organization of the Petroleum Exporting Countries (OPEC) since 2007, has declared its intention to leave the organization following a cut in its production quota.
The decision was confirmed by Angola’s Oil Minister Diamantino Azevedo on the heels of a prolonged period of dissatisfaction with OPEC’s production quotas.
Minister Azevedo, in his statement, emphasized the lack of alignment between Angola’s aspirations and the benefits derived from OPEC membership.
