Angola Leaves the OPEC Cartel

Angola is leaving the Opec oil cartel following an output quota row. Their crude oil production has been in long-term decline and they have opposed OPEC's attempts to cut their base-line quota.

The US is investing heavily in renewables in Angola as part of a drive to diversify their energy supply. According to Bloomberg Africa, Angola's decision to quit OPEC means little for global crude production. But it signals underlying tensions among the oil cartel's members. Angola is Africa's 3rd biggest oil producer but accounts for only 2% of annual OPEC output including Russia. Nonetheless, a good applied example to think about when analysisng the evaluating the often fragile nature of cartels in an oligopoly. Qatar, Indonesia, Ecuador also quit OPEC recently.