2023-12-23 15:30:24
Congo reaffirmed its commitment to the Organization of the Petroleum Exporting Countries (OPEC) on Saturday, days after neighboring Angola decided to leave the organization.
“The Republic of Congo reaffirms its unwavering attachment to the strategic policy defined by the Secretary General of OPEC and OPEC+,” declared Congolese Minister of Hydrocarbons, Bruno Jean-Richard Itoua, in a message posted on LinkedIn.
“Congo is committed to continuing close and constructive collaboration with all member countries.
The development comes after Nigeria on Friday reaffirmed its commitment to OPEC, with Minister of State for Petroleum Heineken Lokpobiri saying his country’s position remained unwavering.
Congo, which became a full member of OPEC in 2018, was set a target of 277,000 barrels per day (bpd) for 2024 by the Saudi-led group of oil producers.
Nigeria, which is Africa’s largest oil producer, and Angola are among several countries that have received lower production targets for 2024 after years of failing to meet previous targets.
Angolan Oil Minister Diamantino Azevedo said on Thursday that OPEC no longer served the country’s interests. It joins other medium-sized producers, Ecuador and Qatar, which left the organization over the last decade.
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