Qatar plans to withdraw from OPEC in January, energy minister Saad Al-Kaabi told a news conference on Monday.  

 

“This decision was communicated to OPEC this morning,” the minister added.

 

The withdrawal will end the country’s more than half-a-century long membership in OPEC.

 

OPEC and non-OPEC members are due to meet in Vienna, Austria, on Thursday, with the aim of reaching an accord over possible output cuts.

 

Saudi Arabia, the United Arab Emirates, Egypt, and Bahrain have cut diplomatic ties with Qatar since June 2017, accusing the Gulf nation of supporting terrorism.

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