Angola Rejects OPEC Quota and Vows to Break It
A worker walks on a Floating Production Storage and Offloading vehicle off the coast of Angola.
Photographer: Rodger Bosch/AFP/Getty ImagesThis article is for subscribers only.
Angola rejected a new output quota handed to it by OPEC and said it planned to breach it, a rare challenge to the cartel that heralds more infighting ahead.
“We will produce above the quota determined by OPEC,” Angola’s OPEC governor Estevao Pedro said in an interview on Thursday. “It is not a matter of disobeying OPEC; we presented our position, and OPEC should take it into consideration.”