Charting a New Course
The Reasons Behind Angola's Withdrawal from OPEC
DOI:
https://doi.org/10.22456/2178-8839.145939Keywords:
Angola, OPEC, Economic Diversification, Oil Dependency, Comparative AnalysisAbstract
This paper examines Angola's decision to withdraw from OPEC and its impact on economic diversification. Analyzing economic data, policy documents, and case studies with Saudi Arabia and the UAE, it explores Angola's motivations, potential for diversification, and challenges. The findings reveal that Angola's withdrawal was driven by economic pressures, policy autonomy, and strategic partnerships. While the move offers flexibility in oil produc-tion and cooperation, successful diversification requires addressing structural issues like weak implementation, poor infrastructure, and limited skilled labor. Comparisons with Sau-di Arabia and the UAE highlight the need for sustained commitment, investment in human capital, and business environment improvements. The paper concludes that Angola's long-term economic stability depends on comprehensive reforms and adaptable policies.
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Accepted 2025-06-17
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