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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Angola Exits OPEC (18290 Views)
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Angola Exits OPEC by HonNL: 3:03pm On Dec 21, 2023 |
Angola is leaving the Organization of the Petroleum Exporting Countries (OPEC) because membership is not serving its interests, oil minister Diamantino Azevedo said on Thursday. SOURCE 6 Likes
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Re: Angola Exits OPEC by Kobicove(m): 3:35pm On Dec 21, 2023 |
Flooding the market with crude oil will lead to a glut which will not help anyone whether or not you're a member of OPEC ![]() 56 Likes 6 Shares |
Re: Angola Exits OPEC by sslcrypt: 3:35pm On Dec 21, 2023 |
Good |
Re: Angola Exits OPEC by ATEAMS: 3:35pm On Dec 21, 2023 |
African oil giant ..the awakening 3 Likes 2 Shares |
Re: Angola Exits OPEC by Typing: 3:35pm On Dec 21, 2023 |
Country wey get balls 27 Likes |
Re: Angola Exits OPEC by 0taPiaPia(m): 3:35pm On Dec 21, 2023 |
Never follow herd mentality 31 Likes 1 Share |
Re: Angola Exits OPEC by ThompsonJoo: 3:36pm On Dec 21, 2023 |
. |
Re: Angola Exits OPEC by daveP(m): 3:36pm On Dec 21, 2023 |
Now can the African members get sense and do something smart? Or they still dragging feet? 33 Likes 2 Shares |
Re: Angola Exits OPEC by BESTScientist1: 3:36pm On Dec 21, 2023 |
hmmm |
Re: Angola Exits OPEC by SweetVibe: 3:36pm On Dec 21, 2023 |
Joao Lorenco is just clueless, This man has been destroying the Legacy of Dos Santos with nothing to show for it. Angola oil industry was better off when Isabel dos Santos was in charge. 10 Likes |
Re: Angola Exits OPEC by Akwamkpuruamu: 3:36pm On Dec 21, 2023 |
Nation with balls 3 Likes 1 Share |
Re: Angola Exits OPEC by EnglishUsa: 3:36pm On Dec 21, 2023 |
While here in Nigeria we belong to all the groups in the world and yet nothing is working 49 Likes 2 Shares |
Re: Angola Exits OPEC by israelmao(m): 3:37pm On Dec 21, 2023 |
Bold step.Enough of being tied to the apron string of the west in all matters and decision-making. 8 Likes |
Re: Angola Exits OPEC by nairalanda1(m): 3:37pm On Dec 21, 2023 |
Anyone hailing Angola on leaving OPEC...should know it is bad news for Nigeria. Oil prices fell on the news. Know what that means? It means Angola is free to produce and pump as much oil as it wants without any pesky OPEC quota...which means lower oil prices long term because of the resultant glut. Angola is also free to sell crude at a lower price than the OPEC benchmark if it wants...especially if it needs the money now. (That's part of how Russia survives US sanctions, sports fans). This weakens our revenue stream drastically, meaning we have to take more and more loans, or the government would have to raise your taxes well well, in the short term at least. So, don't rejoice. Modified The thing that even scares me is the fact that everyone is discovering oil. Zambia, Uganda and even Benin have all found oil. Yes, it is not as high as Nigeria, but more oil in the market means lower prices for oil...which means lower revenue. Modified 2 Know who benefits from a glut induced low crude price? Europe and the USA. It enables fuel prices there to fall, and their governments benefit as a result. 70 Likes 11 Shares |
Re: Angola Exits OPEC by Ofunaofu: 3:37pm On Dec 21, 2023 |
That's some Bold step 3 Likes |
Re: Angola Exits OPEC by pipnator00(m): 3:38pm On Dec 21, 2023 |
I wouldn't blame them. OPEC seem to have outlived its usefulness. Saudi Arabia with less oil than they claim to have keep manipulating the organization to their benefit. I'm yet to see the benefit of that Organization especially to Nigeria! Russia is not a member but benefits more from it and also, exacts more influence over that organization than Nigeria. All Nigeria needs to do is, solve the problems with oil theft, stop the oil banditry in the Niger delta region to increase production. To hell with OPEC! In the end its all about National interest as Angola rightly puts it. 36 Likes 1 Share |
Re: Angola Exits OPEC by eedimo(m): 3:38pm On Dec 21, 2023 |
Nigerians love associations so much that this can only occur in their dreams. They only thing they can do perfectly well is disobey court rulings? 15 Likes 2 Shares |
Re: Angola Exits OPEC by mercato: 3:38pm On Dec 21, 2023 |
Everybody has to protect their interests....Same cannot be said about our own country 8 Likes 2 Shares |
Re: Angola Exits OPEC by omowolewa: 3:38pm On Dec 21, 2023 |
Okay, waiting for our country |
Re: Angola Exits OPEC by Namaster: 3:38pm On Dec 21, 2023 |
When African countries stand up for themselves, I get a hard-on. 9 Likes 1 Share |
Re: Angola Exits OPEC by Watcharena: 3:39pm On Dec 21, 2023 |
OMOx4:Nigeria is not even meeting the production output allorted to them 6 Likes |
Re: Angola Exits OPEC by Kingmadiba2(m): 3:40pm On Dec 21, 2023 |
If not for OPEC oil producing nations will pump lot of oil into the market without hesitation The qouta given to oil producing nations tend to stabilize oil prices,If not oil prices could be averaging 20 to 25 dollar per barrel. 10 Likes |
Re: Angola Exits OPEC by Chicagograduate(m): 3:40pm On Dec 21, 2023 |
We as Nigerians are not enjoying the crude oil gift from God. Tinubu passed a 2trillion naira supplementary budget last 2 months as palliatives for lawmakers to purchase 409 SUV for each lawmaker at 150m each. His wife got 150b Naira in her first lady office. Tinubu bought 5b yatcht for himself.He gave Nigerians nothing.We are sacrificing for them. 16 Likes 1 Share |
Re: Angola Exits OPEC by HappyPagan: 3:42pm On Dec 21, 2023 |
nairalanda1:How oil don help us? Make our revenue kukuma finish, so hunger go force us to dig our grounds and our brains. Since na only oil we wan use prosper... Country of over 200 million disjointed fellows. 11 Likes |
Re: Angola Exits OPEC by creatormix(m): 3:42pm On Dec 21, 2023 |
Much expected |
Re: Angola Exits OPEC by Mosba: 3:42pm On Dec 21, 2023 |
Next Nigeria |
Re: Angola Exits OPEC by Olokolobo: 3:43pm On Dec 21, 2023 |
Na only Nigeria no get shame. 2 Likes |
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