The Congolese government had on Saturday, reaffirmed its commitment to the Organization of the Petroleum Exporting Countries, –OPEC, days after neighbor country Angola made the decision to exit the organisation.
The country’s hydrocarbons minister, Bruno Jean-Richard Itoua, had disclosed in a LinkedIn post:
“The Republic of Congo is reaffirming its steadfast commitment to the strategic policy defined by the Secretary-General of OPEC and OPEC+.”
“The country is committed to continuous close and constructive collaboration with all member countries.”
The development is coming after Nigeria expressed their continuous commitment to OPEC on Friday, with its Minister of State for Petroleum, Heineken Lokpobiri saying that his country’s position remained unwavering.
Congo has been a full member of OPEC in 2018, and had been given a target of 277,000 barrels per day (bpd) for 2024 by OPEC.
Nigeria, which is Africa’s biggest oil producer, and Angola were among several countries given lower output targets for 2024 after years of failing to meet previous ones.
The Angolan Oil Minister, Diamantino Azevedo, on the other hand had said that OPEC no longer served the country’s interests.
The country will join other mid-sized manufacturers, Ecuador and Qatar who have left the organization in the last decade.
