Qatar pulls out of OPEC

SDN. Khartoum


Qatar Monday announced withdrawal from the Organization of Petroleum Exporting Countries (OPEC) as of January 2019 and communicated its decision to the Organization.

Qatar’s Energy Minister Saad Al-Kaabi in a press conference said that his country believes in the importance of focussing on the primary commodity it sells, in apparent reference to natural gas, stressing that Doha would “continue to comply with all commitments like any non-OPEC country.”

Al-Kaabi said Qatar’s influence on oil production decisions within OPEC was “limited”, but the decision to withdraw from OPEC was “not easy,” especially as it has been a member of the organization for 57 years.

The Minister attributed Qatar’s withdrawal from the organization to technical and strategic reasons, but “not for political causes,” he affirmed.

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