Answer:

Angola recently announced its departure from OPEC (Organization of the Petroleum Exporting Countries). This decision was made in order to focus on boosting its oil production and attracting more foreign investment.

Reasons for Angola's Departure from OPEC:

1. Oil Production Boost: Angola aims to increase its oil production and become one of the top global oil producers. By leaving OPEC, Angola will have more flexibility in setting its oil production levels and strategies without being bound by the organization's production quotas.

2. Attracting Foreign Investment: Angola is striving to attract foreign investors to its oil sector in order to boost its economy. By leaving OPEC, Angola can offer more attractive terms and conditions to potential investors, such as tax incentives and more favorable production sharing agreements.

3. Focus on Diversification: Angola wants to diversify its economy and reduce its reliance on oil. By leaving OPEC, the country can prioritize other sectors and explore new opportunities for economic growth.

4. Market Dynamics: Angola's decision to leave OPEC may also be influenced by the changing dynamics of the global oil market. OPEC's influence and effectiveness in stabilizing oil prices have been challenged by factors such as the rise of shale oil production in the United States and geopolitical tensions. Angola may believe that it can better navigate the market dynamics outside of OPEC.

Impact of Angola's Departure:

1. Increased Oil Production: Angola's departure from OPEC could lead to an increase in its oil production, as it will have more flexibility to determine its own production levels. This could potentially increase competition in the global oil market.

2. Foreign Investment: Angola's departure from OPEC may attract more foreign investment to its oil sector, as the country can offer more favorable terms and conditions. This could stimulate economic growth and development in Angola.

3. OPEC's Influence: Angola's departure may weaken OPEC's overall influence and decision-making power, as it is one of the major oil-producing countries within the organization. This could impact OPEC's ability to collectively control oil prices and stabilize the market.

In summary, Angola's departure from OPEC is driven by its desire to boost oil production, attract foreign investment, diversify its economy, and potentially take advantage of changing market dynamics.