Angola quits OPEC over oil production quotas disagreement ...Kuwait

News by : (The New Arab) -
Angola said on Thursday it would leave OPEC over a disagreement on production quotas following the oil cartel's decision last month to further slash output next year. Mineral Resources and Petroleum minister Diamantino Azevedo said that the decision was not taken lightly, but OPEC membership no longer served the African country's interests. "Angola has decided to leave. We think the time has come for our country to be more focused on our goals," Azevedo told state broadcaster TPA. He said Luanda was unhappy with the group's decision last month to further slash production next year in an effort to prop up volatile prices. "If we remained in OPEC, Angola would be forc

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