Qatar has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) from January 2019 and focus more on the production of natural gas. The announcement was made by Qatar’s new energy minister, Saad al-Kaabi.
Qatar is the world’s largest exporter of LPG. Qatar also wants to raise its oil production from 4.8 million barrels of oil equivalent a day to 6.5 million barrels.
Source- News on AIR
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
- HE Mohammad Sanusi Barkindo is the Secretary General of OPEC.
- OPEC headquarters in Vienna, Capital of Austria.