Africa Oil & Gas: Gabon rejoins OPEC

opec oil freezehf_143517_article
OPEC beleives in Balanced Oil Markets by the end of 2016

OPEC has approved Gabon’s request to be readmitted to the cartel after a two-decade absence. Gabon will resume its membership on July 1.  The admittance of Gabon to OPEC again brings the country membership count to 14. The decision was taken at a meeting in Vienna by the other 13 members.

Gabon, with production flows of around 200,000 bpd, is Africa’s fifth largest producer.

This site uses Akismet to reduce spam. Learn how your comment data is processed.