BAGHDAD - The economist, Mudher Mohammad Saleh ruled out the Qatar's political crisis with the Gulf countries affect the oil market.
He said in a statement to the National Iraqi News Agency : I ruled out that the partial tension on one bank of the Gulf to make a coup in the oil market and disappear the excess quantities of supply in the oil market, and Qatar is not a major producer of crude oil in the region except that it has the largest gas reserves in the world, which requires concern for the stability of supplies.
"Qatar is not a maritime military force or an air force that can stop Gulf oil exports from the UAE, Saudi Arabia or elsewhere," he said.
He pointed out that "Qatar does not have political and maritime influence on both sides of the Gulf to confuse the energy market, noting that the international and regional position does not allow military intervention similar to the war in Kuwait, especially in small countries, which are basically protected by foreign bases.
"That is why, we did not notice fluctuate in prices in oil markets, but on the contrary, oil prices fell due to the continuation of the oil market glut and the lack of demand."
Saudi Arabia, the United Arab Emirates, Bahrain, Egypt and other countries cut off diplomatic ties with Qatar last week and accused it of supporting terrorist groups. Qatar denies the charges, welcoming Kuwait's efforts to end the crisis.
Source: National Iraqi News Agency