Marwa Al-Ghoul wrote Friday, December 22, 2023 02:00 PM I continued Oil pricesIt rose today, Friday, to record $80.07 per barrel in futures contracts for international crude oil. BrentUS West Texas Intermediate crude futures also recorded $74.59 per barrel.
In a related context, Angolan Oil Minister Diamantino Azevedo said that his country will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) because its membership does not serve its interests.
Angola, which joined OPEC in 2007, produces about 1.1 million barrels of oil per day, compared to 28 million barrels per day produced by the entire group.
Azvedo told state television that the decision to leave came because OPEC membership does not serve Angola’s interests, but he did not provide further details.
At the end of November, Angola and Nigeria expressed their dissatisfaction with their quotas during the last ministerial meeting of the OPEC+ alliance, which was postponed for several days.
OPEC was founded in 1960, and brings together 13 members led by Saudi Arabia. It formed the OPEC+ alliance in 2016 with ten other countries, including Russia, with the aim of limiting supply and supporting oil prices in the face of the challenges posed by American competition.
2023-12-22 12:00:00
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