In 2023, Angola officially announced that it was leaving OPEC amid a disagreement over oil production quotas, ending its 16-year stint in the cartel. Angola, Africa’s second-largest crude producer, became the fourth country to leave OPEC after Indonesia, Qatar and Ecuador left in 2009, 2019 and 2020, respectively. Relations between the South African country and OPEC came to a head after OPEC gave the green light to the United Arab Emirates to increase its production by 200,000 barrels per day (bpd) to 3.2 million barrels in 2024, but…
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