Angola's OPEC Exit: Tensions and Market Impact

Angola's decision to exit OPEC highlights ongoing tensions within the group, particularly regarding production baselines. However, analysts believe the market impact will be limited as Angola's oil production has been declining. The departure of Angola, following Ecuador and Qatar, is not expected to result in a significant increase in oil supply. While concerns about unity persist, there is no indication that other heavyweight OPEC members will follow Angola's path. The upcoming inclusion of Brazil in OPEC+ and record-high U.S. crude output pose greater challenges for managing global supply-demand balances.