The Duran
@theduran·529K subscribers·3.7K videos
Qatar shocks oil markets, says it will quit OPEC
Posted
December 5, 2018
Views
14,655
Likes
1,008
Comments
125
Engagement
7.73%
December 5, 2018
14,655
1,008
125
7.73%
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12:16Now PlayingThe Duran – News in Review – Episode 157.
The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris explore a historic decision from Qatar to leave OPEC, effective January 1, 2019. Qatar's decision has much to do with OPEC plus and Russia's expanding role in the global oil market.
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Via Zerohedge ()
Just hours after the conclusion of the G-20 summit in Buenos Aires, Qatar announced that, after more than 55 years of membership, it would be leaving the bloc effective Jan. 1. While countries have left OPEC before, Qatar's departure is more significant than its declining oil production might suggest: Since forming in 1960, no other Persian Gulf Countries have left (though Ecuador and Gabon once left, only to return, and Indonesia has suspended its membership).
According to Al Jazeera, the Qatari television network, Qatari Energy Minister Saad Sherida al-Kaabi broke the news overnight. It was later confirmed by Qatar's state energy company, which clarified that Qatar would be leaving OPEC effective Jan. 1.
#Qatar #OPEC #Russia #TheDuran
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