OPEC moots enlargement to seize bigger oil share

CARACAS (AFP) – OPEC oil producers have held informal talks on admitting Angola, Sudan and possibly Ecuador into their ranks in a move that would tighten the cartel’s grip on world oil supply.

The Organization of the Petroleum Exporting Countries has to weigh the added production of the countries against the political fallout of admitting some regimes cold-shouldered by the West, sources said.

OPEC’s current president, Nigerian oil minister Edmund Daukoru, has already written to the governments of Angola and Sudan inviting them to join the cartel.

Both countries said they were considering the proposal as ministers of the 11-nation OPEC held their latest talks in the Venezuelan capital.

AFP