Qatar leaves Opec oil group to focus on gas

03 December, 2018, 22:44 | Author: Shannon Aguilar
  • US-China trade truce gives global stocks and oil a big lift

He stressed that Doha would continue to abide by all its commitments like any other non-OPEC oil producer.

Saudi Arabia, facing pressure from Washington over the Khashoggi killing and in line with Trump's wishes to keep prices low to keep his voter base happy, ramped up production to cool the market.

This double-header has already given the crude oil market a bit of impetus: The price of a barrel of oil has risen 5% since the weekend, and is expected to climb even further when OPEC meet to discuss these changes on Wednesday.

"In the end, perhaps you can do without it".

Qatar says it is quitting the Organization of the Petroleum Exporting Countries (OPEC) from January 2019 to focus on exports of liquefied natural gas (LNG). "Our potential is gas". In the year to September 2018, the US only imported an average of 543,000 barrels per day of crude oil and other petroleum products.

Qatar is leaving the Organisation of the Petroleum Exporting Countries, or OPEC, the first Gulf country to pull out since joining more than half a century ago.

Also adding the bid tone are expectations that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC member Russian Federation would announce supply cuts this week to rein in supply overhang. Oil prices surged on Monday after the United States and China agreed a 90-day truce in their trade war at a weekend meeting of the G20 nations in Argentina.

Clooney's set to become Prince Harry, Meghan's first-born child's godparents?
A friend of the princes told Vanity Fair trouble started after Harry and Meghan Markle got engaged. Middleton, on her part, has further quashed rumours of any bad blood.

Discovery's GolfTV signs up Tiger Woods
Woods would become the first "playing" captain since the inaugural event in 1994 when Hale Irwin captained the victorious US side. Now it's about trying to get everything to peak together like I did for those two weeks, to do it again four more times.

I’m A Celebrity returns with Holly Willoughby and record viewing figures
The campmates have gathered around Anne to make her more comfortable after her small breakdown when they first entered the camp. The former Noel's House Party host has said that if he is crowned King of the Jungle it'll be his showbiz swansong.

Amrita Sen, chief oil analyst for Energy Aspects consultants, argued the move would have limited impact. OPEC nations like Ecuador, Gabon and Indonesia have either withdrawn or suspended their membership in the past, only later to rejoin.

"Its oil production has been steady with limited prospects for increases".

The tense relationship between Qatar and its big brothers - Saudi Arabia and the United Arab Emirates (UAE) - had come unstuck back in June 2017 when Doha came under an unprecedented blockade orchestrated by Riyadh.

They are accusing Qatar of supporting terrorism. Qatar has said the boycott is damaging for its national sovereignty and has denied the claims.

But researcher Bros argued that Qatar's departure would weaken OPEC at a moment when Riyadh is battling worldwide outcry over the murder of journalist critic Jamal Khashoggi.

Not getting involved in policies that support Iran's destabilizing agenda for the region and greater coordination in dealing with Yemeni and Libyan issues was also agreed to by the two countries, the Arab Weekly said, citing sources.

Qatar is a minnow in oil and a giant in natural gas.

Recommended:

  • Pacers guard Victor Oladipo out indefinitely

    Pacers guard Victor Oladipo out indefinitely

    Victor Oladipo sat out his sixth straight game for IN with a sore right knee, but the Lakers still needed James to close it out. The Lakers shot 14.3% from 3-point land, LeBron says you go 5-for-35 from downtown "you ain't winning" games like that.
    WTI Crude Oil and Natural Gas Forecast

    WTI Crude Oil and Natural Gas Forecast

    However, the Saudi Arabian minister was less confident than previously, and he did not specify an actual cut in oil production. Wise stated that that would depend on the severity of cuts adopted by OPEC and its allies.
    Trump Slams GM, Threatens Company

    Trump Slams GM, Threatens Company

    Some 75 percent of its global sales will come from just five vehicle architectures by the early 2020s. As recently as 2012, passenger cars made up more than 50 percent of all USA new vehicle sales.
  • Private enterprise will help NASA return to the moon

    Private enterprise will help NASA return to the moon

    CLPS is a multi-award contract worth $2.6 billion over the course of its 10 year performance period. NASA plans to have astronauts orbiting the moon again by 2023, with a landing a few years later.
    George H.W. Bush

    George H.W. Bush

    In February 2011, then President Barack Obama awarded Bush the highest United States civilian honor, the Medal of Freedom. Bush served as Vice President to Ronald Reagan in the 1980s, and in 1988 won the Republican nomination for president.
    Crown Prince meets Modi in Argentina, plans to ramp up investments

    Crown Prince meets Modi in Argentina, plans to ramp up investments

    Yesterday Mr Trump cancelled a planned sit down with Mr Putin, citing Russia's recent seizure of Ukrainian ships and sailors. Mattis and Pompeo urged senators to support the U.S. involvement in the war in Yemen, including assistance to Saudi Arabia.
  • Two killed in suspected bear attack in Yukon: RCMP

    Two killed in suspected bear attack in Yukon: RCMP

    They had settled in the cabin for the duration of Theoret's maternity leave from teaching at a Whitehorse elementary school. Mounties and the Yukon's Department of the Environment are assisting the coroner's service with the ongoing investigation.
    Jurgen Klopp faces Champions League ban after PSG loss

    Jurgen Klopp faces Champions League ban after PSG loss

    PSG will be eliminated from the Champions League if it loses to Liverpool and Napoli beats Red Star in the other Group C game. We obviously got back into it with the penalty but we weren't quite there.
    Disastrous 'gender reveal' stunt lands man $8 million fine

    Disastrous 'gender reveal' stunt lands man $8 million fine

    The Sawmill fire burned through almost 47,000 acres and needed about 800 fire fighters to put it out. When the gator snapped its jaws, the watermelon exploded, spilling blue Jell-O onto the grass.
  • MBS and Vladimir Putin are all smiles at G20 summit

    MBS and Vladimir Putin are all smiles at G20 summit

    It is thought the prince's other notable meeting in Argentina will be with Russia's President Putin. Jamal Khashoggi went missing after entering the Saudi Consulate in Istanbul on October 2.
    We're not concerned about being liked - Tim Paine

    We're not concerned about being liked - Tim Paine

    Don Bradman's 1948 Invincibles played 12 tour games in England prior to their first Ashes Test but times have undeniably changed. For him, the five-day cricket remains the "most attractive format of the game", despite the hype surrounding the T20 format.
    Trump warns GM could lose subsidies over layoffs

    Trump warns GM could lose subsidies over layoffs

    For GM and other automakers, he pledged to lower fuel economy standards in return for jobs. Additional tariffs on auto imports from China would affect any cars produced in China.


Popular

China-US Ceasefire Paves Way For New LNG Projects
The United States and China are locked in a dispute over their trade imbalance and Beijing's tech policies. But Mnuchin said, "I think there's no question the president's tariff strategy has worked".

British MP Lloyd Russell-Moyle: I am HIV Positive
Further, when HIV viral load suppression is reached it helps to helps to reduce the chances of HIV transmission. Despite enormous progress over the past 30 years, there are still large obstacles to eliminating AIDS.

Deontay Wilder Couldn't Believe His Eyes When Tyson Fury Got Up
On the way down the American caught the challenger with a left and Fury seemed to be knocked down and out. Wilder responded with increasingly desperate flurries of big punches, very few of which found their mark.

All Blacks Sevens complete Dubai double
Maurice Longbottom's weaving run set up Jesse Parahi for the first try and it set the tone for what was the come. I was really curious as to why they were all saying well done and when I realised why, it was like "Wow!".

Priyanka Chopra Dances to Nick Jonas’ Song ‘Close’ in New Video
If we zoom the photograph and take a close look at his mehendi , we can see " Om Priyankaya Namah Om" written over his palm. While Priyanka applied a minimal mehendi , Nick too like an obedient son-in-law agreed upon having a mehendi on his palm.

Crazy Details Emerge About Kareem Hunt Assault Incident
When asked to elaborate on the lessons he learned, he replied: "Just be in the right place at the right time". Police did not arrest Hunt, because they were reportedly unable to determine if a crime had been committed.

Fellaini late show secures last 16 place for faltering United
As the best player at the club and the best goalkeeper in the world, that is a fair, if hefty, sum of money to be handing over. Without David de Gea's save, no winning goal.

Hyde-Smith Wins Mississippi Senate Runoff
Donald Trump , who held a rally in Tupelo in support of Hyde-Smith, congratulated her on Twitter , saying he was "very proud". Neither candidate had won the requisite 50 percent in the first round of the special election on Election Day.

Trump's Ex-Lawyer to Plead Guilty to New Charge
After the new guilty plea, the president called Cohen a " weak person " and contended he's "lying" to get a reduced sentence. Cohen, in his court appearance on Thursday , said he had discussed the deal with members of the Trump Organisation.

Ivanka Trump defends use of private email in White House
Ivanka Trump says her private account emails were archived and contained no classified information. Ms Trump said all of her emails were "stored and preserved".