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OPEC faces challenges after Qatar's withdrawal

by VTV405 December 2018 Last updated at 09:51 AM

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OPEC faces challenges after Qatar's withdrawal
VTV.vn - Speaking at a recent news conference, Qatar's Energy Minister said the country would withdraw from OPEC on January 1st, 2019, ending a membership which has stood for more than half-a-century.

Qatar's decision has raised many concerns in terms of economic interests among major oil producers and the future of the organization. In fact, OPEC's reputation has declined due to disputes among OPEC members states, especially the conflict between Iran and Saudi Arabia after the US imposed sanctions on Tehran.

Qatar isn't the first member to leave the 14-member oil-producer group. Indonesia, Gabon and Ecuador halted their memberships in the 1990s only to return in later years.