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Thursday, 13 Dec 2018

Through its Energy Minister, Qatar announces that it will withdraw itself from the membership of OPEC

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News24xx.com - Through Qatar Energy Minister, Saad Al-Kaabi, said that his country plans to withdraw from the group of world oil-producing countries, the Organization of the Petroleum Exporting Countries (OPEC) per January 29, 2019.

 

This decision is taken after Qatar evaluated its role in the international arena and implemented a long-term strategy. And Qatar wants to focus on producing gas.



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Reporting from Reuters, OPEC plans to hold a meeting on December 6 in Vienna. "Qatar has decided to withdraw effectively from OPEC as of January 2019 and this decision has been communicated with OPEC this morning" Saad said on Tuesday, December 4th 2018.

 

For 57 years, Qatar has joined OPEC, but does not have a big influence on OPEC's production. Although It will no longer be in the organization, Saad stressed that Doha would still comply with all decisions and commitments like other oil producing countries.



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The plan, Qatar will produce LNG from 77 million tons to 110 million tons for the year. And Saad also mentioned that the decision made by Qatar had no political and econilical influence from pressure in countries in Arabia and Saudi Arabia which had only joined OPEC since last June 2017.

 

 

 

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