MOSCOW, January 27 Russian Deputy Prime Minister Alexander Novak, commenting on Angola’s withdrawal from OPEC, told reporters that the more countries consolidate their efforts, the more effective it is for the global oil market.
“»My opinion: the more countries that produce oil consolidate their efforts, the more effective it is for the market. The market is very thin, it requires joint action. More countries need to participate,” the Deputy Prime Minister commented on Angola’s exit from OPEC.
In December, Angola announced that it was leaving OPEC. It has not yet been officially clarified whether this means an automatic exit from OPEC+. However, given that the quotas that Angola does not like are assigned as part of the OPEC+ deal, experts interviewed and a source in one of the delegations suggested that it is leaving this alliance as well. According to the country's Minister of Oil, Gas and Mineral Resources, Diamontino Azevedo, Angola's role in the organization was not significant and the country's participation in OPEC did not meet national interests.