African countries should support Angola's presidency in OPEC, with a view to facilitating the prosperity of the oil sector, the organization and the global economy in general.

This appreciation is expressed in an article on the specialized website of the African Energy Chamber, with the English designation "Africa Energy Chamber", published on Tuesday, December 17.

The online publication prints the picture of Angolan Minister Diamantino Azevedo in the dispatch and says average Brent oil prices for 2020 are currently around $49, down from $64 in 2019 and $71 in 2018 per barrel.

He says the 31% drop, on average, in the price of a barrel of oil compared to last year, represents a major challenge for all OPEC members, especially those whose incomes depend heavily on the sector. oil tanker like Angola.

“OPEC's task is to ensure that world oil markets stabilize in 2021 and lead to a recovery in world prices, now falls to Diamantino Azevedo (Angolan minister of the sector), who has built a reputation these years as an effective manager and executor of the reform of the Angolan oil and gas sector,” the news highlights.

Despite covid-19, several lockdowns and the resulting fall in global economic activity, the main cause of the significant decline in oil prices, the Russian-Saudi oil price war in March 2020, which has certainly been a major source of market instability.

"We are very confident that Minister Diamantino will use the same fervor he used to reform the Angolan oil sector, leading OPEC towards much-needed stability in the global oil market," said the Speaker of the African Chamber. energy of Angola, Sérgio Pugliese.

"Price and market stability is good for OPEC members and also for Angola," Sérgio Pugliese continued, although OPEC's share of daily world oil production fell to less than 50. % of world production in recent years, especially due to the significant increase in shale production in the United States of America, the organization continues to have a great influence, with its OPEC alliance.