Angola thinking of joining OPEC cartel (01/12/06)

 

Angola has plans to join the Organisation of Petroleum Exporting Countries (Opec) cartel, the county's finance ministry has said.

 
 
Spokesman Bastos de Almeida said: "The council of ministers has said it backs Angola joining Opec."

Angola is Sub-Saharan Africa's second largest oil producer, behind Nigeria.

This has had a dramatic impact on the country's growth. In 2005, the Southern African nation grew at 20.6 percent, the second fastest in the World, according to the International Monetary Fund.

Angola currently produces 1.4 barrels a day and aims to push this up to 2 million bpd by the end of 2007.

Source: AllAfrica

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