Qatari energy minister says leaving OPEC not political — our voice doesn’t count

Leaving OPEC was a purely strategic decision and had nothing to do with politics, Qatari Energy Minister Saad al-Kaabi told CNBC on Wednesday.

The energy-rich Gulf state announced plans to pull-out of the syndicate on Monday, just days before a meeting between the influential cartel and its allies in Vienna, Austria. Qatar will withdraw from OPEC on January 1, ending a membership that has stood for more than half a century.

Neighboring countries have enforced an 18-month political and economic boycott of Qatar but al-Kaabi said the move was not political but in fact made strategic sense as the country transitioned towards liquefied natural gas (LNG) production…

 

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