DJ Fitch: New OPEC Members May Cap Production Development For Oil Majors

DowJones Newswires – Fitch Ratings says the possibility of Sudan and Angola joining OPEC reduces the medium-term growth prospects for international oil companies (“IOCs”) operating in these countries.

“Angola and Sudan represent major sources of additional medium-term supply growth in Africa,” says Isaac Xenitides, Senior Director in Fitch’s Energy team. “Joining OPEC in the future may affect this potential through an introduction of the quota system.”
DowJones Newswires