What Qatar's quitting OPEC means for the oil cartel

[Yo_Mama_Been_Loggin]

The future of OPEC is on shaky ground, an analyst told CNBC on Monday, after Qatar abruptly announced it would sever ties with the influential oil cartel after almost six decades.

Qatar's Energy Minister Saad al-Kaabi said at a news conference Monday that Doha would leave OPEC on January 1, 2019. The decision comes just days before OPEC and its allies are scheduled to hold a much-anticipated meeting in Vienna, Austria.

"This is big," Andy Critchlow, head of EMEA energy content at S&P Global Platts, told CNBC's "Squawk Box Europe."

"In the 20 years that I've been covering OPEC, I can't think of anything that is bigger than this (and) that is a more systemic risk to the future of OPEC."

https://www.msn.com/en-us/money/markets/what-qatars-quitting-opec-means-for-the-oil-cartel/ar-BBQpXny?li=BBnbfcN

[Hortensis]

1. Wow. Apparently a number of reasons. Qatar's becoming

big in gas but has always been relatively small in oil, it's a relatively peaceful and decent Middle East nation that's wealthy through natural gas.

OPEC is dominated by Sawdi Arabia, an unstable medieval nation unworthy of support that's dragging other nations into the problems it's creating. Sawdi Arabia is ordering a cut in oil prices to try to bribe planetary forgetfulness of Khashoggi's murder.

Yemen, etc.

Sawd group's efforts, supported by TRUMP's U.S, to hurtfully muscle Qatar into folding on a number of significant and frequently contemptible issues.

Far more and complicated reasons. Religious alliances. Iran.

But good for Qatar. Initially hard on the people ruled by the archconservative House of Sawd. May it fall forever.

[Yo_Mama_Been_Loggin]

2. +1 for the Sawd comments

[pecosbob]

3. Meanwhile repukes beat the drums of war

win-win for Trump, Putin, Netanyahu and al Saud.