In an unexpected move, Angola has decided to part ways with the Organisation of Petroleum Exporting Countries (OPEC), sending ripples through the intricate web of global oil alliances. The announcement by Angola’s oil minister, Diamantino Azevedo, emphasised that OPEC no longer serves the interests of the country, echoing a sentiment shared by mid-sized producers Ecuador and Qatar in the past decade. Angola, having joined OPEC in 2007, is not a heavyweight in terms of oil production compared to some of its counterparts, contributing approximately 1.1 million barrels per day out of the group’s total of 28 million daily contribution.

However, its departure raises questions about OPEC’s unity, causing a nearly 2 per cent dip in oil prices as market analysts express concerns over the cohesion of the OPEC+ alliance. Mr Azevedo’s assertion that Angola gains nothing by remaining in the organisation sheds light on underlying disagreements. The country has grappled with meeting its OPEC quota since 2019, struggling to reverse a decline in output that began after reaching a peak of 2 million barrels per day in 2008. The decision to leave comes on the heels of a protest against OPEC’s production quota cut for 2024, a move that could have constrained Angola’s ability to increase its output. While some argue that Angola’s departure may be an isolated incident, a crack in the unity of OPEC+ could have broader implications.

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The global oil market, already navigating uncertainties due to geopolitical tensions and the transition to renewable energy sources, now faces additional challenges in maintaining a cohesive front among oil-producing nations. It is essential to recognize that the departure of Angola, Ecuador, and Qatar from OPEC over the last decade signals a broader trend. These midsized producers seem to be reassessing their positions within the organisation, driven by concerns over their individual economic interests.

As the world moves towards greener energy alternatives, oil-producing nations face the dual challenge of adapting to a changing landscape while ensuring economic stability. Angola’s heavy reliance on oil and gas exports, constituting approximately 90 per cent of its total exports, underscores the economic ramifications of such a decision. The government, already grappling with the impact of the Covid-19 pandemic and fluctuating global fuel prices, is seeking to reduce its over-reliance on oil. The decision to leave OPEC could be a strategic move to regain control over its oil policies and explore avenues for economic diversification.

As we dissect the implications of Angola’s exit, it becomes evident that the geopolitical chessboard of oil alliances is undergoing a transformation. The departure underscores the delicate balance OPEC must maintain to accommodate the diverse interests of its member nations. While the immediate market reaction might be one of concern, it prompts a more profound reflection on the evolving dynamics of global energy cooperation and the challenges faced by nations navigating the