Reuters | Oil shrugs off geopolitical tensions but some see red flags Reuters Qatar is the world's largest producer of liquefied natural gas, but one of the smallest members of the Organization of the Petroleum Exporting Countries, which on May 25 agreed with 11 of its rivals to extend an oil supply cut of 1.8 million barrels ... Saudi's row with Qatar sinks oil prices to lowest level of 2017 Oil stuck below $50-a-barrel as Qatar rift with Arab states escalates; South Africa slips into recession as economy ... Oil prices finish lower after Middle East countries cut Qatar ties |