Following a clash with the OPEC coalition of oil producing nations and allied countries, OPEC+, earlier in the year over lower production quotas, Angola announced on Thursday that it is formally withdrawing from the OPEC oil producers consortium.

According to a report in state news agency Angop, Angola’s oil minister, Diamantino de Azevedo, said, Angola “does not gain anything by remaining in the organization.”  Angola has been a member of OPEC since 2007.

The November meeting of OPEC+ experienced an unusual delay of several days, while nations haggled over disagreements over lower oil quotas for some African countries, Angola included, as the group and its allied members, led by Russia, attempted to cone to an agreement on overall production numbers.

At the meeting, it was determined that Angola would reduce its production to 1.11 million barrels per month, according to the organization.

Led by Saudi Arabia, OPEC has been attempting to support falling oil prices as concerns have risen over an excess of supply and building inventories, as the global economy begins to slow down and travel and industry follow suit, reducing their consumption of oil.

Although average consumers benefit from the lower oil prices as the cost to fill up their gas tanks drops, and shipping and travel costs fall, it diminishes the profits enjoyed by oil producers. So far this year the cost of the US benchmark crude, West Texas Intermediate, has fallen 8%.

Oil prices have been picking up in the last few days, as shipping through the Red Sea has been disrupted by attacks launched by Houthi rebels on ships passing by Yemen. As a result, shippers have been forced to divert their ships from traveling through the route, which connects Asian nations near the Indian Ocean, as well as the countries surrounding the Arabian sea with the European nations around the Mediterranean, and the Atlantic beyond.

Although Angola is leaving OPEC, at its meeting last month, the oil cartel announced it would be admitting Brazil, which the International Energy Agency has noted has been exporting record quantities of crude this year.