Indonesia said it’s preparing to rejoin OPEC, Reuters reported.
The country left the cartel seven years ago after the country ceased to be a net exporter of oil and gas. The official membership requirements outlined by OPEC say that any country must be a “substantial net export of crude petroleum” to be considered.
While not a net exporter, Indonesia has increased its production in recent years.
“Indonesia has contributed much to OPEC’s history. We welcome its return to the Organization,” stated the group in a press release.
Official reports say that the Asian country’s full membership will be concluded at its regularly-scheduled December meeting.