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