Indonesia's decision to leave OPEC makes little sense, says former chief of cartel. "There is no benefit to Indonesia from leaving OPEC," says former secretary general Subroto.
Withdrawal from OPEC could reduce Indonesia's ability to lobby for lower world oil prices at a time when record prices have forced the government to make the unpopular move of cutting fuel subsidies. Also, "if we remain in OPEC there is some obligation from other members, if problems arise, to assist us," says Subroto.
Minister for Energy and Mines Yusgiantoro Purnomo says Indonesia to "definitely" leave OPEC as has lost oil exporter status; Says could rejoin cartel at later date. (RLC)