Indonesia intends to rejoin OPEC

Baku. 7 May. REPORT.AZ/ Indonesia’s energy minister said today he would ask for President Joko Widodo’s approval for the country to rejoin the Organisation of Petroleum Exporting Countries (OPEC), seven years after leaving the oil exporters’ group, Report informs citing the Reuters.

“I will ask the president to consider rejoining as a member of Opec, so we are close to the market,” Sudirman Said told reporters. “We have been offered to rejoin.”

Indonesia was the only Asian member of the Opec for nearly 50 years, before leaving the group in late 2008 as rising domestic demand and falling production turned it into a net oil importer.

It was not immediately possible to confirm with Opec that it had offered to let Indonesia rejoin the group. The minister said he will attend Opec’s meeting in early June as an observer.