OPEC without Qatar: What does it mean?

Qatar said on Monday it would pull out of the Organization of Petroleum Exporting Countries (OPEC) by January 2019, and instead focus on cementing its position as the world’s top liquefied natural gas exporter. The announcement was made three days ahead of a meeting of the Saudi-led organization which aims to tighten global oil supplies amid persistent concerns over a global glut of crude.

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