Ecuador surprised OPEC in October by announcing its withdrawal effective the end of last year, citing its need for higher revenue that had been crimped by the group's oil cuts.

When did Ecuador leave OPEC?

Ecuador suspended its membership in December 1992, rejoined OPEC in October 2007, but decided to withdraw its membership of OPEC effective 1 January 2020.

Why are countries leaving OPEC?

The impact of rising world oil prices

The first reason why Indonesia left the OPEC membership was due to the impact of the increase in world oil prices that occurred in early 2008. After all, the crisis and the increase in oil prices could be one of them. for every country, including Indonesia.