Limited impact of Qatar's withdrawal from Opec, say analysts

While Qatar is one of Opec's smallest oil producers, when compared to the likes of the cartel's de facto leader Saudi Arabia, it is one of the world's largest producers of liquefied natural gas (LNG)

Crude oil futures are likely to witness some gains in the near term following Qatar's withdrawal from the Organization of the Petroleum Exporting Countries (Opec) in January 2019. However, analysts say the impact on prices will remain muted as the country is a small producer in the cartel.

Qatar's Energy Minister Saad al-Kaabi told a news conference on Monday that the country would withdraw from Opec on January 1, 2019. The announcement comes ahead of the meeting by Opec and its allies including Russia on December 6-7 to discuss cutting supply.

While Qatar is one of Opec's smallest oil producers,