Indonesia is pulling out of Organization of Petroleum Exporting Countries (OPEC), because it is no longer a net oil exporter, the Energy Minister said Wednesday. Purnomo Yusgiantoro told reporters it did not make sense for Indonesia to be a member of the Organization of Petroleum Exporting Countries when the nation's domestic reserves were drying up and its consumption increasing. «We are pulling out of OPEC, » he said. «I will sign the papers today. » Associated Press quoted Purnomo as saying that the decision to leave OPEC was made by the Cabinet of President Susilo Bambang Yudhoyono, but that Indonesia could still rejoin at a later date.
