Doha, Qatar

The Week (US) - - News -

Quit­ting OPEC: Qatar an­nounced this week that it is pulling out of OPEC, be­com­ing the first Mid­dle Eastern coun­try to leave the oil car­tel since its 1960 found­ing. The tiny na­tion of Qatar is one of OPEC’s small­est oil pro­duc­ers but is the world’s largest ex­porter of liq­ue­fied nat­u­ral gas, and it says it wants the free­dom to raise its out­put of both oil and gas. But the de­ci­sion is also a po­lit­i­cal slap at Saudi Ara­bia, OPEC’s de facto leader, which has led other Arab na­tions in a boy­cott of Qatar since June 2017. Saudi Ara­bia has been try­ing to turn Qatar away from Iran, but Qatar has good re­la­tions with the Shi­ite theoc­racy, with whom it shares own­er­ship of the world’s largest gas field.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.