Why the Breach Between Saudis, Qataris Goes On and On: QuickTake - Bloomberg:
When four Arab states led by Saudi Arabia cut diplomatic ties and transportation links with Qatar in June 2017, there were expectations that the rulers would resolve the spat quietly among themselves, as they did a similar dispute three years earlier. Instead, Saudi Arabia issued tough demands, Qatar refused to kowtow to its powerful Arab neighbor, and the breach hardened. Now, Qatar has said it will leave OPEC in the new year in a rare rupture of the Saudi-dominated oil cartel.
1. What’s the meaning of Qatar quitting OPEC?
Qatar says it’s leaving to focus on production of liquefied natural gas, a much bigger market for the country than oil. Qatar is the world’s largest exporter of LNG and accounts for less than 2 percent of OPEC’s output. Despite the official explanation, Qatar’s move was widely seen as resulting from its feud with Saudi Arabia and its allies.
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