Indonesian government is reluctantly planning to quit its membership from OPEC. Is it because of the not-so-good oil markets today or is it because OPEC is not anymore doing its part to maintain the oil price?
As domestic consumption rises and international prices are kept at high level, Indonesia has no choice but to re-discover its abundant oil and gas riches.
To quit OPEC may be a wake-up call for Indonesia to improve investment, upgrade poor infrastructure and reform its weak legal system and red tape to absorb more foreign investors.
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