Africa now dominates OPEC with Congo membership

Africa now dominates OPEC, at least in member numbers.

The Republic of Congo,  the latest to join after Equatorial Guinea last year and Gabon in 2016, expands the number of countries from the continent to seven, compared with six from the Middle East.

Yet with less than a million barrels of oil pumped by the three new members combined, their influence is limited, especially as Saudi Arabia’s alliance with Russia increasingly dictates policy.

Source: Bloomberg

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