Qatar's energy minister comments
- Says Qatar is not committed to OPEC agreements after exiting
I don't believe that this was something that is seen as coming/on the cards for a while. For context, Qatar has been an OPEC member since 1961.
It's looking more of the case that they don't believe extra production cuts will solve anything and they just don't want to go along with it. If they remain in the pact, all members will basically be bullied into submission by Saudi Arabia on the matter.
Update: Qatar mainly citing that they want to focus on LNG production, aiming to bring the production up from 77 million tonnes to 110 million tonnes in the coming years. For some context, Qatar is the largest LNG producer in the world - outranking the production of second and third-ranked Australia and Malaysia combined.
