Namibia's possible interest in joining the Organisation of Petroleum Exporting Countries might originate from a number of foreign relations considerations:
Namibia's Opec membership allows it to influence global oil prices. Namibia may be able to negotiate higher prices for its oil exports by coordinating production quotas with other members, improving government revenue and national income. Additionally, Namibia may explore merging with other African oil producers to increase their collective negotiating leverage inside Opec. It will also support Namibia's long-term energy policy; by joining Opec, Namibia's long-term energy policy, which might favour diversification towards renewable energy sources, this will be enhanced and accelerated.
The effect of Opec on oil prices has the potential to cause market volatility, which might harm Namibia's long-term economic stability.
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Namibia: OPEC SG to Address Windhoek Oil ConferenceOrganisation of Petroleum Exporting Countries (Opec) secretary general (SG) Haitham Al Ghais of Kuwait is expected to deliver an address at the Namibian International Energy Conference (NIEC) in Windhoek from 23-25 April, to share insight into global oil trends.
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