It's mostly about Qatar, which recently had a very public falling out with Saudi Arabia and is currently being blockaded by most of its neighbours, who also com

It's mostly about Qatar, which recently had a very public falling out with Saudi Arabia and is currently being blockaded by most of its neighbours, who also compose the bulk of OPEC: https://en.wikipedia.org/wiki/2017%E2%80%9318_Qatar_diplomatic_crisis https://en.wikipedia.org/wiki/2017%E2%80%9318_Qatar_diplomat... Also, while Qatar is a huge natural gas producer, their oil production is by Gulf standards small and this is unlikely to sway the global price much. It is, however, yet another step in OPEC's slow slide to irrelevance, since Russia and now, thanks to fracking, the US produce huge quantities of oil outside the cartel.