Which country withdrew from the Organization of the Petroleum Exporting Countries (OPEC) in 2008 after it became a net importer of oil?
Economy of Indonesia in 2017. , Indonesia produces 35% of the world's certified sustainable palm oil (CSPO). Indonesia was the only Asian member of the Organization of Petroleum Exporting Countries (OPEC) until 2008, and is currently a net oil importer. In 1999, crude and condensate output averaged per day, and in 1998, the oil and gas sector including refining, contributed approximately 9% to GDP. As of 2005, crude oil and condensate output was per day. This indicates a substantial decline from the 1990s, due primarily to aging oil fields and a lack of investment in oil production equipment. This decline in production has
Organization of Arab Petroleum Exporting Countries Organization of Arab Petroleum Exporting Countries The Organization of Arab Petroleum Exporting Countries (OAPEC) is a multi-governmental organization headquartered in Kuwait which coordinates energy policies among oil-producing Arab nations. OAPEC's primary objective is safeguarding the cooperation of numerous members in various aspects of economic activity within the oil industry as well as maintaining strong relations among themselves; to provide legitimate means to preserve the members' individual and collective efforts within the industry; unite on-going efforts for the procurement of oil; provide access to consumer markets on fair and reasonable terms; and provide conditions, adequate capital, and experience of investors in