The small, gas-rich state of Qatar mentioned Monday that it’ll depart the oil cartel on January 1 after practically 60 years of membership. The nation’s state oil firm, Qatar Petroleum, made the announcement in a sequence of tweets.
“The withdrawal resolution displays Qatar’s want to focus its efforts on plans to develop and improve its pure gasoline manufacturing,” Saad Sherida Al-Kaabi, the nation’s minister of state for vitality affairs, was cited as saying in one of many tweets.
Qatar has been a member of OPEC since 1961. It mentioned the group was conscious of its resolution to withdraw.