Indonesia Rejoins Opec – Why?

Opec will have a 13th member when Indonesia, which left the organization at the start of 2009, rejoins at Opec’s next regular meeting in Vienna on 4 December. Indonesia originally joined Opec in 1962, two years after the organization was founded.

Opec on 8 September announced that it was “reactivating” Indonesia’s membership with the country’s Energy Minister Sudirman Said invited to attend the December meet.

The country left Opec as its oil production dwindled (from 1.4mn b/d in 1996 to 850,000 b/d in 2008). This issue has not gone away. Output has slumped further to just 800,000 b/d – on rejoining Indonesia will become the organization’s only net importer, though its output is somewhat higher than that of members Qatar (650,000 b/d) and Ecuador (540,000 b/d). (CONTINUED - 375 WORDS)