The expected meeting of the Organization of Petroleum producing countries (Opec) this Thursday, may 25, not only discussed the extent of the cut in oil production, as was expected, but also served to announce a new Member. Now Equatorial Guinea is part of the cartel, and the 14° country to join the organization.
The process of accession of Equatorial Guinea began eight years ago and your oil production has increased a lot over the last few days. Equatorial Guinea passes like that to be the sixth African country in organizing, joining Angola, Algeria, Gabon, Libya and Nigeria.
The country was one of those who agreed, even outside of Opec, to reduce the production of the black gold in December last year, contributing to the attempts of rising prices of the commodity in the world.
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