Qatar to withdraw from Opec in January 2019

Qatar to withdraw from Opec in January 2019

Qatar said on Monday it was quitting Opec from January 2019 but would attend the oil exporter group’s meeting this week, saying the decision meant Doha could focus on cementing its position as the world’s top liquefied natural gas (LNG) exporter.

Doha, one of the smallest oil producers in the Organization of the Petroleum Exporting Countries, is locked in a diplomatic dispute with the group’s de facto leader Saudi Arabia but said the move to leave Opec was not driven by politics.

Minister of state for energy affairs Saad al-Kaabi told a news conference that Qatar, which he said been a member of Opec for 57 years, would still attend the group’s meeting on Thursday and Friday this week, and would abide by its commitments. Read More

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