Qatar to exit Opec amid tension with Saudi Arabia
Qatar said it will leave OPEC next month in a move that threatens to fracture the group’s unity just as it tries to maintain a global coalition to control the oil market. Qatar, a member since 1961, is leaving to focus on its natural gas production and has informed the Organization of Petroleum Exporting Countries of its decision, Energy Minister Saad Sherida Al-Kaabi told a news conference in Doha on Monday.
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Oil prices hit highest level in years
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