What The Gabon Coup Means For Oil Markets

The coup in Niger has now spread to Gabon, with military leaders on Wednesday overthrowing the long-time president (the Bongo family, which has ruled since the 60s) and placing him under house arrest. Gabon is a mineral-rich country and a member of OPEC (though the smallest), producing around 200,000 bpd. The country’s oil production is not likely to be negatively impacted unless external forces attempt to intervene or unless the coup loses strength and the situation descends into civil war. For the time being, the oil is safe. The opposition…