OPEC keeps oil output rate unchanged, approves Indonesia as member
In addition, the group has approved Indonesia’s application to rejoin the oil exporters group, according to a statement from Indonesia’s energy ministry. In 2008, the group had agreed to suspend Indonesia’s membership upon the country’s request. Indonesia’s Energy Ministry reportedly stated that Saudi Arabia, Indonesia’s top crude supplier, fully supported their re-accession into OPEC.
Saudi Arabia’s Oil Minister Ali al-Naimi also called on state oil company Saudi Aramco to invest in Indonesia’s downstream market. The United Arab Emirates has also offered to supply crude oil and fuel to Indonesia via Mubadala Petroleum while Iraq stated that they are open to seeing more investments from Indonesia.
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