Qatar’s withdrawal from OPEC unlikely to impact international oil prices: Ismail Iqbal Securities

MG News | December 27, 2018 at 01:37 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

December 27, 2018 (MLN): Qatar’s decision to withdraw from OPEC came as a surprise after 57 years of membership, however, this decision is expected to be insignificant enough to have an impact on Global Oil Market, stated a research report by Ismail Iqbal Securities.

Ms. Sonia Manwani Sr. research analyst at Ismail Iqbal Securities, briefed Mettis Global News that the Qatar’s decision will have a limited impact on global oil prices as its production constitutes only 1.9% of OPEC-15 production, moreover, they are focusing more towards the production of natural gas as natural gas production forms the bulk of its energy resource.

Furthermore, it points to a path of heightened differences with Saudi Arabia. It also raises concerns about the sustainability of the cartel and OPEC’s role in influencing future crude oil prices.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,478.94 174.95M	-0.41% -696.57
ALLSHR	102,885.54 725.60M	-0.29% -297.60
KSE30	50,877.61 79.52M	-0.67% -344.88
KMI30	243,917.86 73.26M	-0.62% -1524.88
KMIALLSHR	66,743.35 311.96M	-0.35% -234.16
BKTi	46,317.47 21.24M	-0.81% -377.00
OGTi	35,218.63 5.39M	-1.33% -473.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,060.00	63,085.00 59,600.00	1545.00 2.55%
BRENT CRUDE	92.78	95.90 92.67	-2.25 -2.37%
RICHARDS BAY COAL MONTHLY	122.00	122.00 121.00	-0.75 -0.61%
ROTTERDAM COAL MONTHLY	134.35	138.25 134.00	0.30 0.22%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	90.25	0.00 0.00	-0.29 -0.32%
SUGAR #11 WORLD	14.12	14.50 14.09	-0.15 -1.05%