Angola Defects from OPEC, Impacting Global Oil Prices

The departure is driven by disputes over production quotas and domestic corruption allegations, with tentative support from the U.S. and China.

Angola, the world's 17th largest oil producer, has left OPEC following a dispute over production quotas.
Angola's departure from OPEC has led to a drop in crude oil prices as markets anticipate an increase in production by Angola's state-owned oil company, Sonangol.
The primary reason for Angola's departure is the increasing politicization of OPEC and its incompatibility with Angola's developmental requirements.
Domestic issues, including corruption allegations against members of the ruling party, have also contributed to Angola's decision to leave OPEC.
The U.S. and China have tentatively supported Angola's departure from OPEC, as it serves their interests in cheap energy prices.