OPEC: Nigeria, Angola insist no crude quota cut

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The simmering crude oil quota crisis rocking the Organisation of Petroleum Exporting Countries, OPEC, is far from over as Nigeria and Angola have refused a cut in their crude oil production quotas.

Only Tuesday, Bloomberg reported that OPEC could not resolve yet the deadlock over oil production quotas for some African members, including Nigeria and Angola.

Indeed, OPEC had delayed its meeting over inability to agree on crude production quotas by members.

The Bloomberg report stated that the Saudi-led alliance had not been able to reach an agreement with Angola and Nigeria, which were pushing back against lower quota limits for 2024 that reflect their diminished production capabilities.

As it is, the resolution of deadlock would help the scheduled OPEC meeting on November 30, 2023.