Angola quits OPEC grouping
Edited By WION Video Desk
Published: Dec 22, 2023, 05:15 IST | Updated: Dec 22, 2023, 05:15 IST
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Angola has shocked OPEC by announcing its departure from the oil-producing group led by Saudi Arabia. The oil minister stated that Angola gains nothing by staying in OPEC and opposes the group's decision to cut its 2024 output quota. This unexpected move has dealt a blow to OPEC's efforts to stabilize oil prices, leading to a nearly 2% drop in prices.
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