Luanda, May 7, 2026 (Lusa) - Angola's president, Joao Lourenco, has said that the Middle East conflict proved Angola had made the right decision to leave the Organisation of the Petroleum Exporting Countries, OPEC, and resume work on the Lobito refinery.

He was speaking to journalists at the presidential palace in Luanda, after meeting his Gabon counterpart, Brice Clotaire Oligui Nguema, who began a two-day state visit to Angola on Wednesday.

When asked about the conflict’s effects and the Strait of Hormuz blockade on oil-producing countries, he said this "only confirms the need for producing countries to produce more oil."

Although he acknowledged the commitment to reduce greenhouse gas emissions and consume fewer fossil fuels, he said this process would "take time" and oil would remain the main energy source for all countries.

"The conflict only proved we were right when we took the unilateral decision to withdraw from OPEC, which other countries have been doing. We need to increase oil supply – the only way to lower crude prices," he said.

He added the conflict also proved the decision to resume construction of the Lobito refinery was right.

"It was a wise move, flawed only by the fact the refinery is not yet ready, because crude demand is high, but demand for refined products is also very high, there are shortages, and we know the level of crude and oil prices," he said.

Angola left OPEC in January 2024 after disagreeing with the group's quota policy. The organisation set a production limit of 1.11 million barrels per day for Angola, below the 1.18 million Luanda wanted.

RCR/LYT // AYLS

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