QATAR SET TO WITHDRAW FROM OIL-EXPORTING NATIONS' GROUP OPEC

The very small, wealthy Persian Gulf state of Qatar will leave the Organization of the Petroleum Exporting Countries (OPEC) from January next year, this was disclosed by Saad al-Kaabi, the country's energy minister yesterday.

The decision to pull out from OPEC came after Qatar assessed manners to make better its role internationally and plan its long-term action intended to accomplish the goal, al-Kaabi told a news conference.

Qatar is one of the cartel’s minute oil producers, but happens to be the world’s gigantic in liquefied natural gas exporter.