• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 10 hours COVID is real now
  • 1 day Is Biden the poster child for White Privilege ? DNC needs to replace him now before it's too late.
  • 17 hours The Boris Yeltsin of America
  • 12 hours Where is Alberta, Canada headed?
  • 1 day Why Putin is popular in Russia
  • 6 hours Is The Three Gorges Dam on the Brink of Collapse?
  • 8 hours Joe Biden offers advice to correct the public health
  • 13 hours There Has Been No Trump Manufacturing Boom Even Before Covid
  • 23 hours Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"

Breaking News:

Oil Climbs On Major Crude Draw

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Arab States Extend Deadline For Qatar Ultimatum

Saudi Arabia, Bahrain, Egypt, and the UAE have given Qatar 48 more hours to submit to a list of demands presented to the emirate ten days ago. The demands included things like closing Al Jazeera TV and other news outlets, cutting off its ties with Iran outside trade, and no more funding extremist organizations – something Qatar has consistently denied.

Qatar’s Foreign Minister said, as quoted by Bloomberg, that the demands were “submitted to be rejected,” although it seems that the four countries that made them expected Doha to quickly surrender. It hasn’t done so, leaning on Iran, Turkey, and other international support for peaceful reconciliation. And of course, further muddying the waters, the UAE is heavily dependent on Qatari gas.

The four countries said in their most recent statement that they expect Qatar to respond to the demands by late Tuesday or early Wednesday, and an answer “will then be sent following the study of the Qatari government's response and assessment of its response to the whole demands.”

There is little to suggest Qatar will change its mind about the steep demands by Wednesday, which will leave the Saudi-Arabia led group with several options, excluding armed escalation, which analysts consider highly unlikely. Related: OPEC’s Crude Exports To The U.S. Near All-Time Lows

According to analysts who spoke to Bloomberg, the most obvious choice would be to leave things as they, are to or tighten the restrictions already in place, making it harder for foreign companies and individuals to do business with Qatar.

Another option on the table is approaching common international partners and asking them to join the embargo. This, however, would not be a very smart choice: Europe, the U.S., or Japan are unlikely to agree to such a request.

Forcing Qatar out of the Gulf Cooperation Council is also a possibility, but not a very likely one unless the group manages to convince Kuwait—which has spearheaded reconciliation efforts—and Oman, which has stayed completely neutral, to vote for the expulsion.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News