Angola announced it’s leaving OPEC following 16 years of membership amid a dispute over oil production quotas, while the cartel tries to buoy global prices. 

• Luanda had rejected a reduced output limit imposed by the leaders of the cartel to reflect the country’s dwindling capacity.
• The decision to leave is not entirely unexpected given the infighting in recent months, and while it may stoke concern about the group’s cohesion, it won’t affect the outlook for production. 
• Angola’s move will shrink membership of the Organization of Petroleum Exporting Countries to 12 nations.