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.
Qatar plans to expand its role as the world’s number one exporter of liquefied natural gas and boost production by more than 50 percent to 110 million tonnes a year.
The decision to quit OPEC comes just days before a crucial meeting of members in Vienna to discuss cutting supplies.
Oil prices reached a four-year high of more than $80 a barrel a couple of months ago but have now dropped to about $60.
What does this mean for the global energy market?
Presenter: Richelle Carey
Guests:
Abdullah Baabood – academic and researcher focusing on the Gulf region and the Middle East
Cornelia Meyer – economist and energy expert
Manouchehr Takin – former OPEC official
Source: Al Jazeera News
