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Doha exits OPEC to take a swipe at Riyadh

China Daily | Updated: 2018-12-06 07:26

Editor's note: On Monday, Qatar announced that it will leave the Organization of the Petroleum Exporting Countries on Jan 1, ending its 57-year membership. What has prompted Doha to exit OPEC? And what impact will it have on the bloc and the oil market? Two experts share their views on the issue with China Daily's Liu Jianna. Excerpts follow:

Oil cartel unlikely to disintegrate

To a large extent economic concerns have prompted Qatar to exit OPEC. It needs huge amounts of oil capital to sustain its big diplomacy, including purchasing US arms and building infrastructure for the Football World Cup in 2022. Also, by leaving the oil cartel, Doha believes it can concentrate on developing its pillar industry of natural gas.

Doha exits OPEC to take a swipe at Riyadh

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