Angola’s departure from OPEC offers window of opportunity
Published On December 27, 2023 » 712 Views» By Times Reporter » Business, Stories
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By ANDREW MULENGA –
THE departure of Angola from the Organisation of Petroleum Exporting Countries (OPEC) presents an opportunity for Zambia to access cheap and affordable petroleum products, the Oil Marketing Companies Association of Zambia (OMCAZ) has said.
OMCAZ president Kafula Mubanga also says to a certain extent, the departure from OPEC will make it easier for Angola to distribute to the region, making its oil more accessible and cheaper.
Dr Mubanga said this in an interview after Angola discontinued its relationship with OPEC following a dispute over quota outputs as the organisation announced further reduction of oil production in 2024 to stabilise global prices.

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