Qatar to quit Saudi-dominated OPEC in 2019

Qatar pulls out of Opec oil producers' cartel

Al-Kaabi said that Qatar made a decision to pull out this calendar year as to not be an OPEC member in 2019.

While announcing the decision to quit Opec, the country's energy minister Saad al-Kaabi said that it was not linked to the political and economic boycott of Qatar that has been imposed since June 2017 by Opec's de facto leader Saudi Arabia and three other Arab states, including the UAE.

That meeting is expected to set a policy for 2019 and despite Qatar's announcement, oil prices soared on Monday after Russian Federation and Saudi Arabia renewed a pact to cap output.

Wilder, Fury draw in epic heavyweight showdown
Los Angeles Lakers basketball star LeBron James wrote: "Man that was the funniest/craziest fight I've ever seen in my life". Needing an incredible rally late, Wilder retained his title with a 10th-round TKO win over the challenger Ortiz.


Qatar, the world's largest exporter of liquefied natural gas (LNG), is still planning to take part in the meeting scheduled for December 6 in Vienna.

Saad al-Kaabi, the country's energy minister, told a news conference: "Qatar has chose to withdraw its membership from Opec effective January 2019 and this decision was communicated to Opec this morning".

"The withdrawal decision reflects Qatar's desire to focus its efforts on plans to develop and increase its natural gas production from 77 million tons per year to 110 million tons in the coming years", the minister was quoted as saying.

Two Former Mets First-Rounders in Mariners Trade Talks
But what's surprising is the idea of the Mets potentially taking on the five years and $120 million left on Cano's contract. He signed a 10-year, $240 million contract with the Mariners in December 2013, a deal that runs through his age-40 season.


The oil prices in October, reached a four-year high of $86, but since then the price has dropped to about $60 per barrel. Oil prices surged on Monday after the U.S. and China agreed a 90-day truce in their trade war at a weekend meeting of the G20 nations in Argentina.

"Qatar has chose to withdraw its membership from Opec effective January 2019 and this decision was communicated to Opec this morning", the minister said. According him, Doha will stick to all its commitments like any other non-OPEC oil producer.

"We don't have great potential (in oil), we are very realistic", said Kaabi, who described himself as "Mr Gas" during the conference. Basically, Qataris have brought the biggest weapon out and it only means more instability between the Qatari and Saudi relationship.

Alaska rocked by 7.0 natural disaster
Sarah Palin revealed her Alaska home has been damaged after a massive 7.9 magnitude natural disaster rocked her beloved state. He said lights on the control board were blinking and things were falling from the ceiling.


The organisation is dominated by oil-rich Saudi Arabia, which has led a bloc of countries in imposing a blockade on Qatar.

Related news:

Hot News

isis-killer-beheading-video-story-top Michael Gove insisted the government can still win crucial Brexit vote
Dec 03, 2018 - 11:24
She said Britain would develop its own sat-nav system, at an estimated cost of several billion pounds (dollars). Rejecting it would leave the United Kingdom facing a messy, economically damaging "no-deal" Brexit on March 29.

isis-killer-beheading-video-story-top China stops research into gene-editing after 'CRISPR baby'
Dec 03, 2018 - 11:12
He's fairly convinced that the experiment was real, though the results have yet to be published in the open scientific literature. The objective of the edit was to remove the CCR5 gene, which helps enable many forms of the HIV virus to infect cells.

isis-killer-beheading-video-story-top Apple implements Do Not Disturb app on iPhone, after TRAIs warning
Dec 03, 2018 - 10:54
The telecom regulator had reportedly threatened to ban iPhones if Apple did not approve the app by January 2019. To do this, swipe from right to left on a number in your recent calls list, and select the " report " option.

isis-killer-beheading-video-story-top Stephen Curry to return to Warriors lineup on Saturday vs. Pistons
Dec 03, 2018 - 07:26
When the dust settled, Durant had a season-high 51 points in a wild 131-128 loss to the Raptors on Thursday night. Trailing 119-113 with 8.6 seconds on the clock, it was Durant who scored back-to-back threes to force overtime.

isis-killer-beheading-video-story-top What we know about services for George H.W. Bush
Dec 03, 2018 - 06:34
I'm not a very good one to give advice; but just don't let the critics discourage you or push you off course. Bush voiced concerns that Trump is dismantling the party they dedicated their lives to building.

isis-killer-beheading-video-story-top Bollywood dazzles at Ranveer-Deepika's wedding reception
Dec 03, 2018 - 06:09
It was a moment of "When 2.0 met Padmaavat " at the wedding reception and the picture is now going viral on social media. Over 800 people are expected to attend the reception including crew members and other people associated with filmmaking.

isis-killer-beheading-video-story-top EA Announces Closed Alpha For 'Anthem'
Dec 03, 2018 - 05:03
From there, you're pretty much set and ready to jump into the alpha, but make sure you're quick - "places are limited". EA has announced an upcoming closed alpha, and sign-ups for it are now live ahead of the test kicking off next week.

isis-killer-beheading-video-story-top Lawyers for former Trump lawyer Michael Cohen asks for no prison time
Dec 03, 2018 - 04:51
Cohen admitted as part of his plea he knew discussions continued into that summer, though he told Congress otherwise. Cohen had secretly taped Trump, who had previously said that he had no knowledge of any payments by his lawyer.

isis-killer-beheading-video-story-top When can I play Red Dead Redemption online?
Dec 03, 2018 - 04:32
This type of posse is saved and anytime the Posse leader is online it will reform and all members will be working for this group. Rockstar is known for fixing errors and bugs in their games so Red Dead Redemption 2 Online won't be an exception as well.

isis-killer-beheading-video-story-top Pokémon GO Will Feature Three Battle Leagues
Dec 03, 2018 - 03:06
After years of waiting, trainers will soon be able to put their Pokemon to the test in player vs. player battles in Pokemon Go . In truth, Niantic has shared no details about how trainer battles will work or when they'll actually be added to the game.

isis-killer-beheading-video-story-top Quebec boxer Adonis Stevenson in critical condition after knockout
Dec 03, 2018 - 03:03
His condition is seen as critical, but how critical people they haven't said. You can watch the conclusion of Stevenson's fight in the videos below .

isis-killer-beheading-video-story-top India to host G-20 summit for the first time in 2022
Dec 03, 2018 - 02:56
He also expressed the hope that India would import more agricultural products from China, Gokhale said. India's ties with both the U.S. and Japan have strengthened enormously under the Modi Government.

isis-killer-beheading-video-story-top Paris assesses injuries, damage after worst riot in decade
Dec 03, 2018 - 02:08
Speaking at Paris police headquarters, Mr Philippe said more than 5,000 protesters were on and around the Champs-Elysees avenue. Despite the unrest that has accompanied the protests, the "yellow vests" have widespread public support , even in the cities.

isis-killer-beheading-video-story-top James Comey To Testify Before House Judiciary Committee
Dec 03, 2018 - 01:17
Comey also "moved on Sunday to withdraw his motion to quash the congressional subpoena", CNN reported . Hard to protect my rights without being in contempt, which I don't believe in", Comey said in a tweet.

isis-killer-beheading-video-story-top Klopp apologises for wild celebrations after last-gasp Liverpool win
Dec 03, 2018 - 01:09
However, Origi netted a last-gasp victor in the 96th minute at Anfield after having come on as a substitute in the 84th minute. It was not in my plan. "I did after the game to Marco Silva because I didn't want to be disrespectful", he told Sky Sports .