Africa’s number 3 oil producer Equatorial Guinea, has expressed interest in joining the Organisation of Petroleum Exporting Countries or OPEC.
The oil producer is seeking to become OPEC’s 14th member and the sixth from Africa. Equatorial Guinea’s energy Minister Gabriel Mbaga Obiang says the move would help raise the continent’s influence and profile in the corridors of global oil production and pricing. The offer to join was made when Obiang traveled to Vienna last Friday to meet OPEC officials.
Equatorial Guinea agreed to production cuts in 2017 as part of a coordinated agreement with OPEC and non-OPEC countries.