AEC calls on African oil producers to remain in OPEC after UAE exit

The African Energy Chamber (AEC) has urged the continent’s oil-producing countries – Algeria, the Republic of Congo, Libya, Equatorial Guinea, Gabon and Nigeria – to remain within OPEC. The call follows the UAE’s announcement of its withdrawal from OPEC and the broader OPEC+ coalition.

According to the Chamber, OPEC has provided a stabilising framework that helped protect the continent’s energy sector through repeated periods of extreme market volatility.

“OPEC has played a critical role in stabilising African oil economies during multiple global crises, and continued participation remains essential for protecting investment, revenues and long-term energy development across the continent,” the AEC said in a media statement on April 30.

Since the Declaration of Cooperation was introduced in December 2016 and implemented from 2017 by OPEC and OPEC+, the 24-country alliance has helped rebalance global oil markets after the 2014–2016 price collapse, when crude fell from above $100 per barrel to below $30.

According to the AEC, this support eased fiscal pressure on African oil producers, stabilised export revenues and limited cuts to upstream investment. Its role was reinforced during the 2020 COVID-19 pandemic demand collapse, when coordinated output cuts supported a recovery in prices and helped African producers preserve budget stability.

Ongoing tensions in the Middle East, including disruptions to key shipping routes such as the Strait of Hormuz, have added fresh uncertainty to global oil flows. This has underlined the value of coordinated output management in limiting price spikes and shielding emerging producers from volatility. The AEC believes African membership in OPEC has strengthened the continent’s voice in global energy discussions, while helping stabilise markets during shocks.

According to the Chamber, key leaders within OPEC have played an important role, with Saudi energy minister Abdulaziz bin Salman backing African development, and OPEC’s secretary general Haitham Al Ghais prioritising investment, production resilience and long-term energy access across the continent.

“OPEC has been good for Africa,” states AEC’s executive chairman NJ Ayuk. “During periods of severe market instability – from the 2014 price collapse to the COVID demand shock – coordinated action under the Declaration of Cooperation helped stabilise prices, protect revenues and sustain investment in our upstream sector. That stability has been essential for African producers.”

With global oil markets facing repeated shocks, geopolitical strain and often uncoordinated production strategies, the Chamber believes that bodies such as OPEC play a key role in keeping volatility in check and supporting smaller, more exposed producers.

As African countries work to raise output, develop new basins and reinforce their fiscal positions, the AEC sees ongoing involvement in OPEC as a way to retain influence while also offering some stability in an otherwise uncertain energy landscape.