Qatar has announced that it will leave OPEC, the oil cartel on January 1 after nearly 60 years of membership.
The country’s state oil company, Qatar Petroleum, made the announcement in a series of tweets. “The withdrawal decision reflects Qatar’s desire to focus its efforts on plans to develop and increase its natural gas production,” Saad Sherida Al-Kaabi, the country’s minister of state for energy affairs, was cited as saying in one of the tweets.
OPEC members collectively supply about 44% of the world’s crude oil. The cartel aims to monitor the market and decide to raise or lower oil production in order to maintain stable prices and supply.
Qatar has been a member of OPEC since 1961. It said the organization was aware of its decision to withdraw.
![Noah’s Ark! The Vessel In Which God Spares Noah And His Family In The Bible Has Been Found [See Photos]](https://www3.illuminaija.com/wp-content/uploads/2018/11/3C66C55E-D734-4AC9-AFC2-B47FF30520C1.jpeg)
