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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.