There was a report yesterday stating that OPEC were had invited Guyana, one of the more faster growing oil producers globally at the moment, to join its cartel. However, that was swiftly denied by the country itself:

„We were not formally invited to join OPEC. That is not something we are interested in. We have been invited, however, to participate in OPEC meetings.“

I guess there might be some words lost in translation but for now, it is clear that there is no change to the status quo just yet.

This article was written by Justin Low at www.forexlive.com.