OPEC+ deal: will it impact Sub-Saharan Africa?
On 12 April, OPEC+ agreed to production cuts to balance the market. Sub-Saharan African members will shoulder 15% of OPEC '10' cuts through 2020. The acute financial strain on oil-dependent African nations will make compliance difficult. This will have little impact on the global market given SSA's relatively small contribution to OPEC. However, with operators cutting 20-30% of investment, SSA production in 2020 is likely to decline regardless.