Qatar to withdraw from OPEC in January 2019

Qatar will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) as of January 2019, said a report by Qatar-based English newspaper Gulf Times on Monday.

The decision came after Qatar reviewed ways to enhance its role internationally and plan long-term strategy, said the report, quoting Minister of State for Energy Affairs Saad bin Sherida al-Kaabi.

"Qatar has decided to withdraw its membership from OPEC effective January 2019 and this decision was communicated to OPEC this morning," he said at a press conference.

Qatar will still attend an OPEC meeting in Vienna this week, he added.

He stressed that Doha will continue to abide by all its commitments like any other non-OPEC oil producer.

The decision was not linked to a political and economic boycott of Qatar imposed since June 2017 by OPEC's de facto leader Saudi Arabia and three other Arab states, he added.