{"id":52723,"date":"2023-12-29T08:39:39","date_gmt":"2023-12-29T08:39:39","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels"},"modified":"2023-12-29T09:40:03","modified_gmt":"2023-12-29T09:40:03","slug":"angolas-departure-from-opec-gives-freedom-to-increase-production-levels","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels","title":{"rendered":"Angola’s departure from OPEC gives freedom to increase production levels"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>Economist Anto\u0301nio Brac\u0327a said this Wednesday, in Huambo, that Angola’s departure from the Organization of Petroleum Exporting Countries (OPEC) represents a significant step forward, as it gives greater freedom to increase production levels.<\/b><\/p>\n

Regarding the announcement of Angola’s exit from OPEC, as of January 1, 2024, he said it was a measure that will allow the Angolan Executive to better manage the national oil sector, through increasing capacity of production that you understand best.<\/p>\n

The measure, he explained, causes Angola to increase production without taking into account the cuts or limits imposed by OPEC, creating mechanisms that allow oil prices to be reviewed on stock exchanges.<\/p>\n

In Anto\u0301nio Brac\u0327a’s opinion, the measure is more positive, due to the fact that, in the last 10 years, Angola has had very low production levels and, whenever there is negative volatility in the price of a barrel of oil, OPEC imposes a reduction in exploration , which reduces investment.<\/p>\n

Therefore, he continued, with this mechanism adopted by Angola, the limits of reducing the barrel of oil have already been exceeded, attracting more investments, with the opening of more wells.<\/p>\n

The economist declared that most of the countries that make up OPEC, despite having a significant share of the oil market, do not represent the quantitative focus of the largest producers worldwide.<\/p>\n

He mentioned that Angola has signed international commitments that require major political decisions, to become one of the main allies in Africa, and to this end, it must adopt the necessary lines of a market and capitalist economy.<\/p>\n

The country’s decision to abandon OPEC, which it voluntarily joined in 2006, follows the 36th Ministerial Meeting of this Organization and its allies, held on 30 November this year, via videoconference, which decided to grant Angola a quota of production of 1,110 million barrels of crude oil\/day.<\/p>\n

This decision was contradicted by the Angolan Government, which reiterated and maintained its proposal to produce 1,180 million barrels of crude oil\/day, starting in 2024.<\/p>\n

OPEC is an intergovernmental organization of 13 nations, founded on September 15, 1960 in Baghdad by the five founding members (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela).<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. Economist Anto\u0301nio Brac\u0327a said this Wednesday, in Huambo, that Angola’s departure from the Organization of Petroleum Exporting Countries (OPEC) represents a significant step forward, as it gives greater freedom to increase production levels. Regarding the announcement of Angola’s exit from OPEC, as of January 1, 2024, he said it was a measure […]<\/p>\n","protected":false},"author":84,"featured_media":52722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,244],"tags":[233,337,329],"class_list":["post-52723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nAngola's departure from OPEC gives freedom to increase production levels - Angola<\/title>\n<meta name=\"description\" content=\"Economist Anto\u0301nio Brac\u0327a said this Wednesday, in Huambo, that Angola's departure from the Organization of Petroleum ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Angola's departure from OPEC gives freedom to increase production levels\" \/>\n<meta property=\"og:description\" content=\"Economist Anto\u0301nio Brac\u0327a said this Wednesday, in Huambo, that Angola's departure from the Organization of Petroleum ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-29T08:39:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-29T09:40:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/12\/sm_1703830128.943716.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1098\" \/>\n\t<meta property=\"og:image:height\" content=\"706\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Angola’s departure from OPEC gives freedom to increase production levels\",\"datePublished\":\"2023-12-29T08:39:39+00:00\",\"dateModified\":\"2023-12-29T09:40:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels\"},\"wordCount\":376,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/12\/sm_1703830128.943716.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/angolas-departure-from-opec-gives-freedom-to-increase-production-levels\",\"name\":\"Angola's departure from OPEC gives freedom to increase production levels - 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