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Qatar to leave OPEC and focus on gas


03 Dec 2018

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Qatar said on Monday it was quitting OPEC from January to focus on its gas ambitions, taking a swipe at the group's de facto leader Saudi Arabia and marring efforts to show unity before this week's meeting of exporters to tackle an oil price slide.

Doha, one of OPEC's smallest oil producers but the world's biggest liquefied natural gas (LNG) exporter, is embroiled in a protracted diplomatic row with Saudi Arabia and some other Arab states.

Qatar said its decision was not driven by politics but in an apparent swipe at Riyadh, Minister of State for Energy Affairs Saad al-Kaabi said: 'We are not saying we are going to get out of the oil business but it is controlled by an organisation managed by a country.' He did not name the nation.

Click here for full Reuters article

Source: Reuters via Yahoo! Finance





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