Cracks in the dam: Oil prices fall after Angola leaves OPEC ...Middle East

forex live - News
Cracks in the dam: Oil prices fall after Angola leaves OPEC
Oil prices abruptly fell earlier after Angola announced it was leaving OPEC. "The decision, duly considered, was taken at a session of the Council of Ministers, guided by the President of the Republic, João Lourenço," Angola's oil minister said.The fear is that this is a crack in the OPEC dam and the first step towards a breakup of the cartel, something that could release 4 million barrels per day of oil into the market and send prices into the $30s.Angola is a decent-sized oil producer, at about 1.1 million barrels per day. However it's unclear why they picked such a big fight with OPEC as they have been unable to maintain production for years.The tension started in June when Angola was giv

Hence then, the article about cracks in the dam oil prices fall after angola leaves opec was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Cracks in the dam: Oil prices fall after Angola leaves OPEC )

Apple Storegoogle play

Last updated :

Also on site :



Latest News