Gabon Wants Back in OPEC

Tuesday, April 19, 2016

After more than a two decade hiatus, Gabon has decided it wants to rejoin OPEC. Gabon joined OPEC in 1975 and left in 1995. The country would be the second to return to the OPEC fold in the last year following Indonesia’s return after a seven year absence.

According to report, Gabon sent an official request to OPEC to rejoin the cartel. If allowed back in the fold Gabon would be the smallest member in the producing group.

The West African country produces slightly over 200,000 bpd, not a significant amount when you consider the production levels of other African OPEC members such as Nigeria and Angola.

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