Qatar to Quit OPEC

Denies decision related to Saudi-led boycott

Image Credits: Alex.ch / Flickr.

Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies.

Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century.

The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy.

Read more