Biggest OPEC Producer Deals Blow to Tiny Rival in Top Market
- Japan, S. Korea 2017 imports of Qatari oil fell more than 20%
- Qatar hit by repercussions of Saudi oil-sales strategy: Jogmec
OPEC's Control of the Oil Market Is Running on Fumes
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Tiny OPEC producer Qatar is paying the price for top member Saudi Arabia’s oil strategy in Asia.
Oil exports from Qatar, one of OPEC’s smaller crude producers, to Japan last year slumped by almost a quarter to its lowest level since 1990, while shipments from giant supplier Saudi Arabia grew 8.1 percent, boosting its market share in the Asian nation to a record. Over in South Korea, imports from Qatar sank 26 percent to the least in seven years.