Angola to quit OPEC over oil production quota disagreement

Angola said on Thursday that it would quit membership from the Organisation for Petroleum Exporting Countries over a disagreement on production quotas.

The decision is coming on the heels of the oil cartel’s decision last month to further slash output next year, according to an AFP report on Thursday.

“Angola has decided to leave. We think the time has come for our country to be more focused on our goals,” Mineral Resources and Petroleum Minister Diamantino Azevedo told state broadcaster TPA.

AFP