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Qatar to withdraw from OPEC, cites LNG focus

Stock MarketsDec 03, 2018 01:55AM ET
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© Reuters. Qatar to withdraw from OPEC, cites LNG focus
  • Just days before a crucial meeting between OPEC and its allies, Qatar announced plans to pull out of the oil cartel in January 2019.
  • "Achieving our ambitious growth strategy will undoubtedly require focused efforts, commitment and dedication to maintain and strengthen Qatar's position as the leading natural gas producer."
  • Qatar has also faced a blockade and diplomatic isolation from its regional neighbors - which maintain the Gulf state supports terrorism - since June 2017.
  • Crude +5.2% to $53.59/bbl. Natural gas -2.8% to 4.4840.
  • Previously: U.S. crude +4% on U.S.-China trade truce, Russia-Saudi to renew OPEC pact (Dec. 02 2018)
  • ETFs: USO, UNG, OIL, UGAZ, UWT, DGAZ, UCO, DWT, SCO, BNO, BOIL, GASL, FCG, DBO, DTO, USL, KOLD, UNL, GASX, DNO, QAT, OLO, SZO, DCNG, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, GAZB, USOD, OILD, OILU, USAI
  • Now read: Looking For Strength In Gas This Winter


Original article
Qatar to withdraw from OPEC, cites LNG focus
 

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