Good I hope more leave OPEC’s price fixing cartel.
1) Angola’s output peaked 2008 at 1.855 million barrels/day.
2) They have been in decline since. 2019 1.373 mbpd
3) 2022 number was 1.144 mbpd. Covid influenced that.
4) Regardless of Covid, output has been in decline. Wells deplete. That is why there is a depletion allowance in the tax code. The oil equivalent of depreciation of an asset.
So, this headline is pretty much not significant. They were already in decline.