The two West African countries have lost nearly a quarter of their production capacity since 2019 as a result of underinvestment and security challenges.
The change clears the way for giving larger production quotas to OPEC Gulf members such as Saudi Arabia, the United Arab Emirates and Kuwait at the expense of African countries such as Nigeria and Angola. African producers rely heavily on investment from international oil companies that have shunned Africa in recent years in favour of investment in the U.S. shale patch and in prolific giant oilfields elsewhere such as offshore Brazil and Guyana.
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