Qatar supports historic OPEC agreement

Despite political tension with Saudi Arabia, Qatar remains committed to the extended oil production cap, reports the Wall Street Journal.

Qatar renews commitment to the strategy set forth by the Organization of Petroleum Exporting Countries (OPEC) to reduce oil output until March 2018. Qatar's energy minister Mohammad al-Sada announced Sunday that the current situation in the region will not impede Qatar's international responsibilities, reports the Wall Street Journal.

Besides Qatar, neighbors Saudi Arabia and the United Arab Emirates are members of OPEC. Until recently, their alliance stood strong, but now the partnership has been weakened as Saudi Arabia and the UAE have accused Qatar of supporting extremists and severed diplomatic ties with the country. Qatar rejects the accusations.

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