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.

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