There is more to Angola’s OPEC exit than meets the eye – Javier Blas

In the ever-evolving landscape of the oil market, the notion that "OPEC is dead" has been declared prematurely time and again. Angola's recent departure, while seemingly inconsequential in terms of output, reveals deeper fissures within the bloc. Power in OPEC is measured in millions of barrels, and Angola's decline mirrors a broader trend. The disquiet within OPEC intensifies, with concerns about Riyadh's pursuit of high oil prices and resistance to dissent. As Angola exits, attention shifts to the pivotal United Arab Emirates, posing a potential threat to OPEC's cohesion.

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Angola Quitting OPEC Is More Critical Than It Seems: Javier Blas

By Javier Blas

The three most dangerous words in the oil market are "OPEC is dead." The oil cartel's obituary has been written many, many times — and always prematurely. The almost non-stop departure of member countries during the past decade – Indonesia in 2016, Qatar in 2019, Ecuador in 2020  — have provided ample opportunity to prepare eulogies, all of them a waste of words.

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