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OPEC to consider Republic of Congo's application to become 15th member

From platts.com

OPEC could add a new member at its meeting on Friday, with the Republic of Congo seeking to join the producer group. Congo, which produces about 250,000-300,000 b/d, would become OPEC's 15th country, if its application is approved, and add to the organization's growing African bloc. A vote is likely to be on the OPEC meeting agenda, sources told S&P Global Platts, though a Congo representative said it could be pushed to later this year, given that the organization faces a week of thorny talks over the future of its production cut agreement. The Congo bid is "looking good, but since OPEC has a lot of difficult ... (full story)

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  • Category: Fundamental Analysis