Expert: the exit of Qatar from OPEC won’t affect the price of oil

© AP Photo / Hasan JamaliНефтяной the machine-rocking. Archival photoExpert: the exit of Qatar from OPEC won’t affect the price of oil© AP Photo / Hasan Jamali

Coming out of Qatar from OPEC on oil prices will not be affected, said the RIA Novosti oil analyst and head of the energy Agency Petroleum World, Elio EIA.

Qatar, 57 years consisting in the OPEC, on Monday announced its withdrawal from the organization. The country intends to focus on gas production and increased LNG production. The announcement was made ahead of a meeting of OPEC Ministers in Vienna. On Wednesday there was held a meeting of the Ministerial monitoring Committee of OPEC+, and on 7 December will host a meeting of Ministers from the 25 countries participating in the agreement OPEC+.

«No, it wouldn’t completely (coming out of Qatar). Prices have more to do with the game of Russia and Saudi Arabia as the key players, the rest of today to say,» said EIA.

According to him, the other oil players, except for Iraq, which occupies a prominent position may now only join one or the other position.