By Enyichukwu Enemanna
Angola has announced that it is withdrawing its membership of the Organization of Petroleum Exporting Countries (OPEC).
This announcement was made on Thursday by the country’s Mineral Resources, Oil & Gas Minister Diamantino de Azevedo, local news agency, Angop reports.
The decision according to the report, was taken during the 10th session of the council of ministers under Angolan President Joao Lourenco.
“We feel that, at this moment, Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave,” Azevedo told reporters.
Angop said the minister highlighted that the country has always fulfilled its obligations and fought all the time to see OPEC modernise and help its members obtain advantages.
“When we are in organisations and our contributions, our ideas, do not produce any effect, the best thing is to withdraw,” he added.
It is not clear why the oil-rich country wants to leave the body, along with Nigeria however, Angola was among several countries given lower targets at the last OPEC+ meeting in June after years of failing to meet the previous ones.
