Some have chimed in, claiming that it's an irrational move, while others have, perhaps correctly, attributed it to "toxic politics" in the always volatile Middle East. The latter view has much credibility given Qatar's ongoing geopolitical rift with many of its Arab neighbors over allegations of financing terrorist groups, which led to a regional economic boycott of the country last year.

Despite the tensions, Qatar is claiming that its exit from OPEC has no political overtones. Saad al-Kaabi, the country's energy minister, told a news conference on Monday that the decision was not linked to the political and economic boycott imposed in June 2017 by Saudi Arabia and three other Arab states – the United Arab Emirates, Bahrain and Egypt. The group also imposed a trade and travel embargo on Qatar over allegations of support for terrorism groups.