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Gulf International Forum: Out of OPEC is a unique sign of Doha DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Gulf International Forum: Out of OPEC is a unique sign of Doha

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Gulf International Forum: Out of OPEC is a unique sign of Doha Empty Gulf International Forum: Out of OPEC is a unique sign of Doha

Post by claud39 on Fri Dec 14, 2018 6:44 am


Gulf International Forum: Out of OPEC is a unique sign of Doha


Gulf International Forum: Out of OPEC is a unique sign of Doha Rc_154477147487_23

A report by the Gulf International Forum said that Qatar's announcement last week to withdraw from the Organization of Petroleum Exporting Countries (OPEC) has surprised many observers. While the Gulf region is traditionally associated with its massive oil production, few acknowledge how the current political impact of the MNF is dwarfed by its earlier days. Accordingly, developments regarding Qatar's strategic planning, OPEC's institutional constraints and the current geopolitical climate in the region make the resolution more understandable. 
The Doha-based report released yesterday said Doha did not have the same oil exports as some of its neighbors. With the past year marked by open tensions between Qatar and three Gulf Arab states, it is logical that Doha wants to leave an organization dominated by its rivals. At the same time, in recent decades, Qatar has doubled the production of liquefied natural gas (LNG), reducing its interest in oil.
The dimensions of the decision 
Qatar announced its withdrawal from OPEC and put a number of justification for its decision, most notably, linking the withdrawal of low oil exports in Qatar, which does not give Doha a lot of influence in the decision-making process in OPEC. Oil producing countries usually have the largest role in OPEC production policy and quota allocations. 
Therefore, the Qatari government's decision is somewhat practical, as evidenced by the government, which has announced that it is not interested in investing time and effort in an organization in which Doha has not had many roles. For example, in the past 18 years, Qatar's oil exports have never exceeded 865,000 bpd, and last October it averaged 609,000 bpd.
This contradiction is further confirmed when comparing Qatar's production with its neighbors and other Opec members. According to the report, "There has recently been a clear contradiction between Saudi Arabia, Bahrain and the UAE on the one hand, and Qatar on the other side due to the one- Making Doha more cautious than any Saudi-dominated organization. 
Although OPEC member states insist on keeping oil production agreements and quota allocations independent of political problems, most OPEC economies and energy sectors serve the aspirations of individual countries. The fact is that Saudi Arabia produces 33% of OPEC's total production, which can have the upper hand in the decision-making process.
This effect was evident in the OPEC + 2016 agreement between Saudi Arabia and Russia (a non-OPEC country), which adjusted oil production to normalize world prices. The bilateral decision between Moscow and Riyadh has been turned into a nearly three-year policy within OPEC, which was extended only until 2019 after a meeting between Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman. 
Qatar First 
, the report said that as a result of the Gulf Cooperation Council (GCC) crisis, Qatar appears to be motivated to give priority to its own needs before meeting the needs of the Gulf Cooperation Council (GCC), which includes a breach of the oil production coordination normally carried out by the regional bloc. The announcement of the exit from OPEC is just one of several ways in which Qatar has sought to differentiate in recent months, including labor and immigration reforms that distinguish Doha from its neighbors.
The Qatari decision also sends another signal that Doha is seeking independence from any regional organization, policy or coalition that may not necessarily be in line with its grand strategy. It also shows that Doha's energy sector policy will be a LNG-based policy to maintain the global pride that remains as the world's largest producer. At the regional level, the decision was announced two days before the OPEC meeting, just one week before the planned annual Gulf summit in Riyadh. The absence of His Highness Sheikh Tamim bin Hamad Al-Thani is another message that Doha is in a position to uphold its own conditions to assert its sovereign foreign policy, national interests and economic gains.
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