The expert estimated as the exit of Qatar from OPEC affect the oil market

© RIA Novosti / Maxim to Bogodeeva in fotosannette conventional pumping unit. Archival photoThe expert estimated as the exit of Qatar from OPEC affect the oil market© RIA Novosti / Maxim to Bogodeeva the image Bank

Output from OPEC, Qatar will have no impact on the oil and financial markets, the participants are now more closely monitoring the agreements to limit production between Saudi Arabia and Russia, reported RIA Novosti head of capital markets EMEA investment Bank Citi Phil Drury.

«The exit of Qatar from OPEC unlikely to have an impact on the market. Attention is now focused on the agreements Saudi Arabia and Russia that will have significant value for market participants and OPEC+,» — said the Agency interlocutor.

The state Minister for energy of Qatar Saad bin Shreda al-Kaabi said Monday that Qatar would withdraw from the Organization of countries-exporters of oil from 1 January 2019 and will focus on the production of gas and production of LNG. According to him, this decision was not political and not caused by contention with other countries. In addition, Qatar will continue to fulfill international agreements after leaving the cartel.

The expert estimated as the exit of Qatar from OPEC affect the oil market© Vitaly Pedicellata just Catharsis

Source