{"id":41574,"date":"2018-12-13T08:10:22","date_gmt":"2018-12-13T13:10:22","guid":{"rendered":"https:\/\/olduvai.ca\/?p=41574"},"modified":"2018-12-13T08:10:22","modified_gmt":"2018-12-13T13:10:22","slug":"multipolar-world-order-in-the-making-qatar-dumps-opec","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=41574","title":{"rendered":"Multipolar World Order in the Making: Qatar Dumps OPEC"},"content":{"rendered":"
\"Multipolar<\/p>\n

Multipolar World Order in the Making: Qatar Dumps OPEC<\/a><\/h3>\n<\/header>\n

The decision by Qatar to abandon OPEC threatens to redefine the global energy market, especially in light of Saudi Arabia\u2019s growing difficulties and the growing influence of the Russian Federation in the OPEC+ mechanism.<\/p>\n

In a surprising statement, Qatari energy minister Saad al-Kaabi\u00a0warned<\/a>\u00a0OPEC on Monday December 3 that his country had sent all the necessary documentation to start the country\u2019s withdrawal from the oil organization in January 2019. Al-Kaabi stressed that the decision had nothing to do with recent conflicts with Riyadh but was rather a strategic choice by Doha to focus on the production of\u00a0LNG<\/a>, which Qatar, together with the Russian Federation, is one of the largest global exporters of. Despite an annual oil extraction rate of only 1.8% of the total of OPEC countries (about 600,000 barrels a day), Qatar is one of the founding members of the organization and has always had a strong political influence on the governance of the organization. In a global context where international relations are entering a\u00a0multipolar<\/a>\u00a0phase, things like cooperation and development become fundamental; so it should not surprise that Doha has decide to abandon OPEC. OPEC is one of the few unipolar organizations that no longer has a meaningful purpose in 2018, given the new realities governing international relations and the importance of the Russian Federation in the oil market.<\/p>\n

Besides that, Saudi Arabia requires the organization to maintain a high level of oil production due to pressure coming from\u00a0Washington<\/a>\u00a0to achieve a very low cost per barrel of oil. The US energy strategy targets Iranian and Russian revenue from oil exports, but it also aims to give the US a speedy economic boost. Trump often talks about the price of oil falling as his personal victory.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Multipolar World Order in the Making: Qatar Dumps OPEC The decision by Qatar to abandon OPEC threatens to redefine the global energy market, especially in light of Saudi Arabia\u2019s growing difficulties and the growing influence of the Russian Federation in the OPEC+ mechanism. In a surprising statement, Qatari energy minister Saad al-Kaabi\u00a0warned\u00a0OPEC on Monday December […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[14453,1714,13939,595,600,1026,694,8203],"class_list":["post-41574","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-federico-pieraccini","tag-liquified-natural-gas","tag-multipolar-world","tag-oil-production","tag-opec","tag-qatar","tag-russia","tag-strategic-culture-foundation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41574"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41574\/revisions"}],"predecessor-version":[{"id":41575,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41574\/revisions\/41575"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}