Equatorial Guinea: Opec application successful

Equatorial Guinea’s application to join the Organisation of the Petroleum Exporting Countries (Opec) has been successful and the country will become the fourth sub-Saharan African member. An Opec statement said a meeting in Vienna on 25 May considered Equatorial Guinea’s request to join the organisation and decided to approve its admission with immediate effect.Equatorial Guinea was among 11 non-Opec members that agreed to production cuts in December to stabilise the oil price.