In a surprise announcement by Doha Persian Gulf Arab state of Qatar will be quitting the Organization of the Petroleum Exporting Countries (OPEC) in January.
Qatar to quit OPEC in January
4 Dec 2018 - 10:13
In a surprise announcement by Doha Persian Gulf Arab state of Qatar will be quitting the Organization of the Petroleum Exporting Countries (OPEC) in January.
Saad al-Kaabi, Qatar’s energy minister, told reporters in a news conference that Doha had informed OPEC about its decision on Monday morning.
Kaabi denied speculations that quitting OPEC was linked to the country’s feud with Saudi Arabia and its allies.
The decision was "technical and strategic" and had "nothing to do with the blockade," he said.
In June 2017, Saudi Arabia, the United Arab Emirates (UAE), Bahrain, and Egypt severed diplomatic relations with Qatar, in a scheme generally believed to have been orchestrated by Riyadh.
The four countries accused Qatar of sponsoring “terrorism” and destabilizing the region, an allegation strongly denied by Doha.
Several African countries have also broken ties with Qatar in support for the Saudi-led quartet.
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