Indonesia rejoins OPEC

Local news portals quoted the Indonesian Minister of Energy and Mineral Resources Sudirman Said as saying that the country was reactivating its membership in OPEC.

He said Indonesia was confident that its renewed membership in OPEC would bring back benefits to the country in addition to establishing closer ties with other oil exporting countries.

"Through close links with other oil exporting nations around the world, it will enable Indonesia to exchange views and deal directly with them.

"We are now in the midst of shortlisting candidates to be appointed as the Indonesian representative in OPEC," Sulaiman said.

Indonesia joined OPEC in 1961 and is the only member country from Southeast Asia.

In 2008, Indonesia became an inactive OPEC member due to oil pro Indonesia was the only Asian OPEC member for nearly 50 years before leaving the group at the start of 2009 as oil prices hit a record high, and rising domestic demand and falling production turned it into a net oil importer.