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OPEC In Discussions With Four Countries To Join Group

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Reuters reporting that, "OPEC Secretary General Haitham Al Ghais told the Emirati news agency on Wednesday that there are discussions with 4 new countries, Azerbaijan, Malaysia, Brunei and Mexico, to join the organization."

  • Al Ghais said: "Consultations with new countries from outside the organisation contribute to strengthening the cohesion of OPEC."
  • Any expansion to expand OPEC would be a significant development for the group whose membership has been relatively static. The most recent expansion was to include the Republic of Congo and Equatorial Guinea, and readmit Gabon between 2016 and 2018.
  • The news of the consultations follow reports earlier today that Azerbaijan has been approached by Al Ghais to join the group as a full member: LINK

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