Angola Has Decided To Leave OPEC

Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts to prop up oil prices. Angola’s oil minister Diamantino Azevedo said the Organization of the Petroleum Exporting Countries no longer served the country’s interests. It joins other mid-sized producers Ecuador and Qatar, which have left OPEC in the last decade. “We feel that … Angola currently gains nothing by remaining in the organisation and, in defense of its interests, decided to leave,” Azevedo was quoted as saying in a presidency…