News That Matters

Tag: economic

Moody's: Energy-rich Qatar facing economic risks

Moody's: Energy-rich Qatar facing economic risks

Business
Aug. 8 (UPI) -- Qatar's finances remains exposed to risks associated with lingering regional disputes and declining oil-related revenues, Moody's Investors Service said.Saudi Arabia in June led a coalition of Middle East countries in severing ties with Qatar, adding a layer of geopolitical risk to the global energy market. Saudi Arabia is the largest oil producer in the Organization of Petroleum Exporting Countries, Qatar is a leading natural gas supplier and the Persian Gulf is a choke point for the flow of energy supplies from the region.The countries accused Qatar of supporting terrorist networks and called on the nation to downgrade its relations with the Muslim Brotherhood in Egypt and close its al-Jazeera media outlet, among other things.The ratings agency said it lowered its outlook...