Angolans See Little Benefit from Oil Wealth, OPEC Membership

Angolans See Little Benefit from Oil Wealth, OPEC Membership

More than a year ago, the Organization of Petroleum Exporting Countries (OPEC) officially welcomed its newest and 12th member, Angola.

Such a move by the cartel is rare. The last time OPEC admitted a country into its ranks was 1975, the year Angola secured its independence from Portugal.

What undoubtedly prompted the invitation was the southern African country's oil reserves, standing at more than nine billion barrels: it is the fourth-largest total in Africa, trailing only Libya, Nigeria and Algeria. In fact, Angola is now the continent's second-largest producer after Nigeria. It is also a major supplier to China, providing it with 14 percent of its crude oil, as of October 2007.

Keep reading for free!

Get instant access to the rest of this article by submitting your email address below. You'll also get access to three articles of your choice each month and our free newsletter:

Or, Subscribe now to get full access.

Already a subscriber? Log in here .

What you’ll get with an All-Access subscription to World Politics Review:

A WPR subscription is like no other resource — it’s like having a personal curator and expert analyst of global affairs news. Subscribe now, and you’ll get:

  • Immediate and instant access to the full searchable library of tens of thousands of articles.
  • Daily articles with original analysis, written by leading topic experts, delivered to you every weekday.
  • Regular in-depth articles with deep dives into important issues and countries.
  • The Daily Review email, with our take on the day’s most important news, the latest WPR analysis, what’s on our radar, and more.
  • The Weekly Review email, with quick summaries of the week’s most important coverage, and what’s to come.
  • Completely ad-free reading.

And all of this is available to you when you subscribe today.

More World Politics Review