Angola Leaves OPEC Oil Cartel
Dear Friends & Neighbors,
(Please click on red links & note magenta)
For updated global info & data on COVID-19, please click HERE. For updated global data & graphs on COVID-19, please click HERE. For COVID-19 cases and death counts in USA by state, please click HERE. For COVID-19 cases in Florida via Florida COVID Action, please click HERE. For COVID-19 cases in Florida, via Florida state government, please click HERE.
Angola has left the OPEC oil cartel after 16 years. Angola has been against OPEC’s recent oil production cuts. The cartel has been slashing production to drive up global oil prices. But Angola and Nigeria have been protesting the cuts as they affect the flow of foreign exchange. When OPEC announced the last round of cuts, Angola’s president was in Washington meeting US president Joe Biden. Did the meeting with Biden have anything to do with Angola leaving OPEC? Palki Sharma tells you, in the video published on Dec 22, 2023, by Firstpost, as “Angola Leaves OPEC Oil Cartel: Did Biden Play a Role in the Decision?|Vantage with Palki Sharma“, below:
Angola has shocked OPEC by announcing its departure from the oil-producing group led by Saudi Arabia. The oil minister stated that Angola gains nothing by staying in OPEC and opposes the group’s decision to cut its 2024 output quota. This unexpected move has dealt a blow to OPEC’s efforts to stabilize oil prices, leading to a nearly 2% drop in prices, in the video published on Dec 22, 2023, by WION, as “Angola quits OPEC grouping| World Business Watch | WION“, below:
Angola leaves OPEC over oil production quotas disagreement – Angola, a nation bathed in both sunshine and black gold, stands tall as a titan of the oil industry. Its gushing wells pump a staggering 1.12 million barrels of crude daily, a lifeblood that courses through the country’s veins, fueling a whopping 90% of its exports. This viscous treasure isn’t just Angola’s most valuable commodity; it’s the very engine of its economy, driving development and prosperity. From towering offshore rigs that pierce the ocean’s surface to bustling export terminals humming with activity, Angola’s landscape pulsates with the rhythm of oil. This dependence on oil is so profound that it grants Angola a coveted seat at the table of OPEC, the exclusive club of the world’s leading oil producers. However, Angola has come out to announce that it is quitting OPEC. Why is Angola leaving the oil producers group and what implications could its exit have on OPEC, the Angolan economy, and global energy supply? Join us in today’s video as we shed more light on these questions in great detail. Before we dive into our topic today, if you haven’t already, please consider subscribing to our channels and ringing the bell to be notified about all our exciting future videos On Thursday, December 21st, 2023, Angola announced that it would leave the Organization of the Petroleum Exporting Countries or OPEC following a disagreement regarding production quotas, a move that will reduce the group to 12 members. Mr Diamantino Azevedo, the country’s minister for mineral resources, petroleum, and gas, said on public television on Thursday that Angola, which is Africa’s 2nd largest oil producer, is leaving OPEC because it is not serving the nation’s interests. “When we see that we are in organizations and our contributions, our ideas, do not produce any effect, the best thing is to withdraw,” Azevedo said. “We feel that … Angola currently gains nothing by remaining in the organization and, in defense of its interests, decided to leave,” Azevedo was quoted as saying in a statement issued by the president’s office, in the video published on Dec 22, 2023, by The New Africa Channel, as “Angola leaves OPEC over oil production quotas disagreement“, below:
In the video published on Dec 22, 2023, by Arise News, as “Oil News: Angola Exits OPEC on 1.1mn BPD Quota – Kelvin Emmanuel“, below:
In a sign of lingering tensions among oil producers, Angola said Thursday that the country would be leaving OPEC. The decision was made at a cabinet meeting led by President Joao Lourenco, the state-owned Jornal de Angola reported. Angola’s announcement was not surprising, in the video published on Dec 21, 2023, by WION, as “Angola leaves OPEC in blow to oil producer group| World DNA|WION“, below:
OPEC nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week, in the video published on Dec 23, 2023, by WION, as “OPEC nations affirm commitment to group after Angola’s exit|World DNA|WION“, below:
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com
We Need Fair Value of Solar
~Let’s Help One Another~
Please also get into the habit of checking at these sites below for more on solar energy topics:
www.kiva.org/team/sunisthefuture
