Qatar Leaves OPEC

The foreign minister of tiny energy-rich Qatar announced last Monday that effective January 1st, they would be pulling out of OPEC, the Organization of Petroleum Exporting Countries.

The Saudis cut diplomatic ties with Qatar in June 2017 and imposed a blockade on the country, as part of their effort to strong-arm Qatar into supporting Saudi foreign policy aims. The Saudis wanted Qatar to sever ties with Iran, with whom Qatar shares an important gas field in the Persian Gulf. The Saudis also demanded that Qatar shut down the Al Jazeera news agency, which provides independent regional news. It didn’t work. The independent-minded Qatar continues to maintain an open-door policy with most countries and factions, willing to speak, work and negotiate with many countries and groups the Saudis would choose to sideline.

Qatar will be focusing now on their natural gas production.

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