The Caspian Hare 5,710 #1 Posted December 4, 2018 https://gulfnews.com/world/gulf/qatar-to-withdraw-from-opec-as-of-jan-2019---minister-1.1543818676811 Quote Qatar is to leave OPEC next month to focus on gas production, the country's new Energy Minister Saad Al Kaabi announced in a surprise move on Monday. Qatar has been a member of OPEC since 1961. "Qatar has decided to withdraw its membership from OPEC effective January 2019 and this decision was communicated to OPEC this morning," Kaabi said at a Doha press conference. Share this post Link to post Share on other sites
spartan max2 18,212 #2 Posted December 4, 2018 I am not going to act like I know enough about geopolitics to know the implications of this, but this has to be big. From my understanding Qatar sells a significant chunk of the oil in OPEC. Share this post Link to post Share on other sites
Earl.Of.Trumps 5,558 #3 Posted December 4, 2018 I don't get it. They want to concentrate on gas production..? If they have both, why not tool both? Unless they think oil prices are too low in comparison to gas prices. But cutting ties with OPEC is a surprise move. I am sure it makes other members of OPEC happy to see one less producer, though Share this post Link to post Share on other sites
Farmer77 28,114 #4 Posted December 4, 2018 3 hours ago, The Caspian Hare said: https://gulfnews.com/world/gulf/qatar-to-withdraw-from-opec-as-of-jan-2019---minister-1.1543818676811 Are they looking to join BRICS? Share this post Link to post Share on other sites
Gromdor 13,615 #5 Posted December 4, 2018 Sounds like there is additional political factors. OPEC wants to cut production to raise prices. Qatar doesn't want to cut it's production. it also buys US goodwill as Trump (and the rest of the US) wants cheap oil/gas to continue the economic growth we currently have. Qatar has the third largest gas fields behind Russia and Iran. https://www.wsj.com/articles/qatar-to-leave-opec-as-cartel-pressured-to-cut-production-1543840921 Factor in stuff like the Khashoggi killing and the political dances going around Iran and Russia and I can see them seeing more profit with shifting allegiances from Saudi Arabia more towards Iran. 1 Share this post Link to post Share on other sites
DodgyDaoist 162 #6 Posted December 5, 2018 18 hours ago, Farmer77 said: Are they looking to join BRICS? Emerging markets , as Brazil, China and India are all looking to increase their imports of gas. Share this post Link to post Share on other sites
Mr.United_Nations 2,916 #7 Posted December 6, 2018 Is it to do the air blockade? Share this post Link to post Share on other sites
RoofGardener 17,385 #8 Posted December 7, 2018 On 04/12/2018 at 2:42 PM, spartan max2 said: I am not going to act like I know enough about geopolitics to know the implications of this, but this has to be big. From my understanding Qatar sells a significant chunk of the oil in OPEC. I dunno Spartan Max... I think it only has about 2% of the worlds oil reserves ?? 1 Share this post Link to post Share on other sites
