Qatar announces it will leave OPEC
Qatar to withdraw from OPEC in January 2019
Speaking at a news conference in the capital Doha, al-Kaabi said: “The withdrawal decision reflects Qatar’s desire to focus its efforts on plans to develop and increase its natural gas production from 77 million tonnes per year to 110 million tonnes in the coming years.”
“They say it has nothing to do with the blockade on Qatar and that they have been thinking about it for several months now,” Bellis said, referring to a diplomatic blockade on Qatar by Saudi Arabia, the United Arab Emirates ( UAE ), Egypt and Bahrain.
Since 2013, the amount of oil Qatar produced has steadily declined from about 728,000 barrels per day in 2013 to about 607,000 barrels per day in 2017, or just under two percent of OPEC’s total output.
Fig 2: All liquids production with EIA data
Fig 3: Crude production and exports (Jodi data)
Fig 4: Qatari oil and gas fields (main oil fields: Dukhan, Al Shaheen, Idd el Shargi)
Fig 5: Crude, condensate and NGL production
OPEC’s Statistical Bulletin
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