Indonesia to pull out of OPEC

Discussion in '2008 Archive' started by KenH, May 28, 2008.

  1. KenH

    KenH
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    Indonesia to pull out of Opec

    By John Aglionby in Jakarta

    Published: May 28 2008 08:50 | Last updated: May 28 2008 11:21

    Indonesia on Wednesday said it would withdraw from Opec at the end of this year because, as a net oil importer, its interests were no longer served by being a member of the oil producers’ cartel.

    Purnomo Yusgiantoro, energy and mineral resources minister, said Indonesia – the cartel’s only Asian member – would like world oil prices to fall while Opec’s 12 other members would like prices to remain high.

    - rest at www.ft.com/cms/s/0/d0e346fe-2c87-11dd-88c6-000077b07658.html?nclick_check=1
     
  2. windcatcher

    windcatcher
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    Any recommendations from others who have registered at this site?
    Thanks.

    Ken, it looks interesting.
     
  3. LadyEagle

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  4. windcatcher

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    Thank you LE for providing that link.

    I'm still puzzled ......or maybe too tired to decifer it.... but it sounds like Indonesia has oil .....but it's citizens are hurting due to prices .....the leaders are complaining about production? Does OPEC control the refineries? Does it act like a 'middle man' through which oil is distributed..... so that one nation may be 'punished' or 'materially rewarded' by control or 'allowance' of its petro to the market?

    May be someone has more information or understanding.
     

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