Is Namibia, one of the top 15 oil

Last year,How to trade foreign exchange and how to open an account when Angola announced its departure from OPEC, many started questioning whether OPEC could maintain its unity as before. This was because Angola stated that OPEC's policies did not align with its interests. As a major country with a daily production exceeding 1.1 million barrels, Angola's departure was significant. However, Angola turned out to be an exception, and OPEC has continued to hold firm.

Recently, foreign media reported that OPEC is attempting to attract Namibia into its fold. The source of this news is likely NJ Ayuk, the Executive Chairman of the African Energy Chamber, who revealed that OPEC has begun an "offensive" to draw Namibia, an African country with increasingly high oil production, into its organization.

However, Namibia has not formally responded to these rumors, only stating that it has not been officially invited to join OPEC. It was further clarified that OPEC's members are all oil-exporting countries, and Namibia currently is not one.

According to information revealed by Namibia's Prime Minister last year, Namibia is on the brink of becoming a major oil-producing country. Last year, the Namibian President announced the discovery of two light crude oil wells in the Orange Basin, indicating that Namibia could soon rank among the top 15 oil-producing countries, based solely on discovered fields.

OPEC is well aware that Namibia currently does not meet the criteria of an oil-exporting country, but it already possesses the potential and is on the verge of becoming a major oil-producing nation. Thus, targeting Namibia as a new member is not surprising, and in some ways, Namibia could serve as a substitute and complement to Angola.

Furthermore, Namibia could benefit from cooperating with OPEC, making it a win-win partnership. OPEC can leverage this to enhance its influence in the oil industry and related sectors. Although OPEC and OPEC+ already wield significant influence, Namibia's addition could help them maintain this advantage in the future.

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