Three more countries applied to join OPEC

Congo, Chad and Malaysia have filed applications to join the Organization of the Petroleum Exporting Countries (OPEC), Equatorial Guinea’s Minister of Industry, Mines and Energy Gabriel Mbaga Obiang Lima said.

"In Africa,you have countries like Congo, you have initially a country like Chad, they are up-and-coming producers that are interested. Of course they are not producing right now, they are developing, but at the end they could be having 3,000 to 4,000 barrels per day," Obiang said on the sidelines of the CERAWeek conference in Houston, Texas

The official added that new members would make the international community "see OPEC with a new face."

"The Asian countries - some of them are Indonesia, who initially left OPEC to be observers and now they want to return back and then you have other ones like Malaysia. The countries have already sent a letter, we are evaluating,” the minister explained.

The minister also said that OPEC in general supports Venezuela’s proposal to extend the work of the OPEC, non-OPEC oil market monitoring by additional five years, Sputnik reported.