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Qatar to Withdraw from OPEC

Qatar is withdrawing from the Organization of the Petroleum Exporting Countries (OPEC) as of January 2019, Saad al-Kaabi, the country’s energy minister said on Monday, Armenpress reports citing Reuters.

The decision came after Qatar reviewed ways to enhance its role internationally and plan long-term strategy, including focusing on its gas industry, he said.

“Qatar has decided to withdraw its membership form OPEC effective January 2019 and this decision was communicated to OPEC this morning,” Reuters quoted him as saying at a news conference.

The minister added that Qatar would still attend the upcoming OPEC meeting in Vienna this week.

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