RealNews

Indonesia pulling out of OPEC because it is no longer a net oil exporter

Indonesia is pulling out of OPEC, because it is no longer a net oil exporter, the energy minister said Wednesday. Purnomo Yusgiantoro told reporters it did not make sense for Indonesia to be a member of the Organization of Petroleum Exporting Countries when the nation’s domestic reserves were drying up and its consumption increasing. Full Story

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