OPEC Secretary General: The world needs oil for years and decades to come, and the door is still open for Angola’s return

London, March 30, 2024 (LANA) - The Secretary-General of the Organization of the Petroleum Exporting Countries, Haitham Al-Ghais, said that the world needs oil and that this need will continue for many years and decades. OPEC plays a prominent role in supporting and stabilizing oil markets, and that many relevant parties in the energy and oil industry are aware of this role.

Al-Ghais indicated in an interview with the Independent Arabia newspaper that the door is still open for Angola to return to the OPEC family, which decided to leave OPEC at the end of 2023, after a dispute with the group of producers regarding its production quota, which It is less than its actual capabilities.

Al-Ghais said: “Since its founding in 1960 by five oil-producing countries (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela), OPEC has still attracted many oil-producing countries that share the same vision and share its most prominent goal, which is coordinating oil efforts and policies among member countries in order to support the stability of global oil markets. To this day we see the fruits of these efforts, as the number of members of the organization at the present time has reached 12 countries. Throughout the organization’s six-decade history, many oil-producing countries have joined, and some of them have withdrawn for various reasons related to internal trends in which the organization does not intervene in any way).

...(LANA)...