In what has emerged as the most significant escalation to result from the Qatar diplomatic crisis - which pits two of OPEC’s largest oil producers, Saudi Arabia and the UAE, against the world’s biggest exporter of liquefied natural gas and further disrupts stability in the region - the biggest Middle East oil and container ports banned all vessels sailing to and from Qatar from using their facilities.
Today's stunning expulsion of Qatar from the Saudi "circle of friends" prompted some analysts to ask if in Qatar's immediate futures is a departure from OPEC.
Shortly after Saudi Arabia announced it had cut ties with Qatar over Doha's alleged support for Islamists and Iran, on Monday the kingdom said it had also shut the local office of Al Jazeera, Qatar's influential satellite channel, and had revokved its license. Riyadh views Al Jazeera as critical of its government, but the outlet says it is an independent news service giving a voice to everyone in the region. The move was announced by state television.
From Saudi press agency SPA, google translated:
Virtually nobody saw it coming.
Authored by Cyril Widderhoven via OilPrice.com,
The cohesion of the Gulf Cooperation Council (GCC), which includes all Arab Gulf countries, seems to be cracking.