Indonesia wants to return to OPEC

Индонезия хочет вернуться в ОПЕК

While Indonesia will not cut oil production

Indonesia sent a letter to the Organization of countries-exporters of oil with the request to renew her membership. While Indonesia has set a condition – she will not cut oil production, reports The Business Times.

This information was confirmed by the Ministry of energy of the country, noting that the letter in OPEC were sent back on may 24.

Indonesia joined OPEC in 1962 but suspended its membership in the organization in 2009. Starting in 2016, the country returned in the cartel, but again they come out on 1 December 2016.

We will remind, on may 25, 2017 OPEC entered Equatorial Guinea, becoming the 14th member of the organization.

As reported may 25 at a meeting in Vienna, OPEC members agreed to extend the agreement to reduce oil production in the nine months to the end of the first quarter of 2018.