Oil Gambit

Doha's exit announcement came just a few days before a crucial OPEC meet.

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Anilesh S Mahajan
  • Dec 12, 2018,
  • Updated Dec 12, 2018 8:54 PM IST

Babus in New Delhi are keeping close tabs on Qatar's exit from the oil producer cartel OPEC. Doha's exit announcement came just a few days before a crucial OPEC meet to formalise the next round of production cuts (apparently already agreed upon by Saudi Arabia and Russia).

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A disintegrated OPEC would be good for the world and India too, given the fears of price hikes engineered through production cuts. Though Indonesia quit and remains out, Qatar remained a disciplined member for nearly six decades. The time may perhaps be right for India to push bilateral oil shopping.

Babus in New Delhi are keeping close tabs on Qatar's exit from the oil producer cartel OPEC. Doha's exit announcement came just a few days before a crucial OPEC meet to formalise the next round of production cuts (apparently already agreed upon by Saudi Arabia and Russia).

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A disintegrated OPEC would be good for the world and India too, given the fears of price hikes engineered through production cuts. Though Indonesia quit and remains out, Qatar remained a disciplined member for nearly six decades. The time may perhaps be right for India to push bilateral oil shopping.

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