OPEC Respects Qatar Decision to Leave Organization

Vienna, The Organization of Petroleum Exporting

Countries (OPEC) has affirmed its commitment and respect to the

decision of the State of Qatar to leave OPEC, with effect from Jan 1,

2019.

“OPEC respects the decision of the State of Qatar and remains

committed to achieving a lasting balance and stability in the oil

market,” the OPEC statement said.

OPEC, whose declared mission of “coordinating and unifying” the

policies of its member states and ensuring the stability of oil markets,

thanked Qatar for its long-standing support.

Qatari Minister of State for Energy, Saad bin Sharida al-Kaabi,

announced yesterday the withdrawal of his country from OPEC as of

January 1, 2019 and denied that the decision has any political motives.

Source: Oman News Agency