REPUBLIKA.CO.ID, JAKARTA -- Organization of Petroleum Exporting Countries, OPEC, Friday (4/12), would inaugurate the re-joining of Indonesia into the world's oil cartel organization. Indonesian government officially declared its intention to re-join OPEC in June 2015.

Indonesia which is rich in oil resources and has largest economy in Southeast Asia, was part of OPEC for nearly 50 years. Indonesia suspended its membership in 2009 after becoming an importer of oil.

Its return to OPEC was seen as a way for Indonesia to access cheaper oil supply when demand surged in a mid of declining domestic production.

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"Indonesia has made a formal request OPEC to enable the full membership in the organization," OPEC stated in a statement, 8th September 2015.

OPEC said Minister of Energy and Mineral Resources, Sudirman Said, would be invited to attend the next regular meeting of Austrian capital, Vienna, on 4th December 2015, which would also inaugurate the reactivation of membership of Indonesia.

OPEC who has 12 members from the Middle East, Africa and Latin America, produced about one-third of the world's oil. But over the past year, its members, including the biggest producers, such as Saudi Arabia, Iran, Venezuela and Nigeria's incomes drop sharply as global crude supplies are plentiful, causing oil prices fell more than 50 percent.

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