Southeast Asia’s largest economy is returning to OPEC as its government warns the collapse in crude prices has worsened an “increasingly unappealing” energy investment climate and dependence on foreign oil grows. For the first time in seven years, OPEC’s newest member will increase crude production. It will likely be just a blip. The start of Indonesia’s Banyu Urip oil field in Java will be the single biggest addition to global supply this year, helping the returning member of the Organization of Petroleum Exporting Countries inch up output by about 1 percent this year and 5 percent in 2016. The decline will resume from 2017, according to BMI Research. “There will be a temporary boost,” said Peter Lee, a Singapore-based analyst at BMI. “It won’t be enough to make up for the decline in all other […]