Qatar is withdrawing from OPEC


Global financial analysts, Peter Dixon of the Comerzbank system. Hostas in doesn't have much effect on OPEC's influence over the oil market. You know, I don't think it makes a big difference certainly with regards to crude Qatar is very small player in this guy. I think we can only look at their decision to leave OPEC some full of symbolic gesture quite what the tell us this what entire show OPEC. Members are expected to cut oil supply at a meeting in Vienna minister of state of energy affairs. Asad I'll copy said caught har- would steal attend the groups meeting on Thursday and Friday, adding that a decision to exit OPEC was not political. I think Qatar has been on the great pressure from some of its neighbors in the Gulf for some time now. So it is slightly surprising. That is pulling out then claiming told a political issue. I it strikes me can only be that peck members Saudi Arabia and United Arab Emirates and the fellow Arab states, but rain and Egypt have imposed a political and economic boy cut on cut har- since June twenty seventeen the accused cut har- of supporting terrorism a charge denied by Doha. Now, we have Saad Joe what professor of the Lyndon school of. Economics and political science. I senior fellow with the Middle East center. So professor Joa. What do you think Qatar want to quit OPEC at at this moment because we heard cutters? Energy ministers. Say the move is not a political. They are just trying to focus more on natural gas. What you could say what you wants to say. But this this move is boxing, long political move goes. Chillers that. Cuts rooms to give an example, the other Gulf country that they are not going to stay and does this actions on on the Bill how about for a long time this move, by the way could be them. If they think again, he moved to of leaving open, then they could take another day remove of movie and even the cons of community constant. So I think it's the bullet could move and very dangerous indication to the unity of the country. Estimator oil exporter, which leaves the alliance. Isolating caught Har what might Saudi Arabia think about is. Are there any major geopolitical consequences where going to see? Well, I think Saudi Arabia is worried about this move because oh go up not that big member of the OPEC. I mean big export volume in this in this is Asian but denies ation. So, but it could leave to other countries using this is this of basin like Ron, and this could weak and even more of especially when they feel that the oh the decision is in decisions in OB of them Nate by those Abia by. Imbalance by the unite. Now, it's being argue the move by Katara doesn't have much effect on OPEC's influence, but still this country has been a member of OPEC for fifty seven years. So what could be the implication of this move on OPEC and also the general world oil market. As I said, it's not a general in his because the share cut that husband in this action plan is not that big. But as I said, it could lead to other countries to leave the Belgian this happened in two thousand eight degrees here. Left of denies Asian although came by to to all day should again. But it's good to something like that. And this good. I've been this could endanger the unity of the addition also that ten members producing countries have not I've done member of OPEC who are cooperating with up when they see such who maybe they decide not to anymore with any reduction of Oriel ex.

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