Indonesia will return to OPEC
Indonesian Energy Minister Sudirman Said announced that the nation will join OPEC at the end of this year. He pointed out that Indonesian authorities got official invitation from OPEC’s Secretary General.
Several months ago, Indonesian minister said that the nation plans to join the organization of the oil exporters by the next meeting, which is scheduled for the beginning of December.
Indonesia is the largest oil producer in the Southeast Asia. The nation left OPEC 6 years ago, but its representatives were present at the organization’s meeting as observers.
Note that Indonesian government has announced its intention to increase oil production, which currently account for 830K barrels a day, as the domestic demand has soared.