Qatar's public foreign assets are more than 200% of gross domestic product (GDP) this year, which is higher than the Gulf average of 159%.
Fuel prices in Qatar will fluctuate in response to changes in the global market from May 1, the Ministry of Energy and Industry announced on Tuesday.
Oil prices rose on Tuesday, rebounding from heavy losses that were sparked by a report that Saudi Arabia was close to completing an oilfield expansion.
GCC countries require “saving measures” over the medium term to restore fiscal sustainability, rebuild buffers and save sufficiently for future generations, the International Monetary Fund said.
Crude prices fell in Asia Monday following a report saying Saudi Arabia could maintain its total production capacity with the expansion of an oilfield, fuelling fresh concerns about the global supply glut.
There is only “limited market backlash” from the Doha meeting, said QNB, which sees adjustment of oil markets to lower prices gathering pace.
Oil prices jumped more than 2% on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing.
Kuwait's state oil firm said it expects to restore full production within three days after workers ended a strike in a surprise about-turn that triggered a renewed slide in world prices.
Oil prices recovered further on Tuesday as a strike by Kuwaiti petroleum workers entered its third day, offsetting downward pressure from a failure by producers to freeze output.
Iran's oil production will reach pre-sanctions levels within two months, a deputy oil minister was quoted as saying in what could be read as a signal that it might be willing to join efforts to support prices.
Oil prices slumped on Monday after producers failed to agree on a plan to curb global supply at a meeting in Qatar, while world stock markets edged higher.
Oil prices fell in thin trade as analysts said a weekend meeting of major oil exporters would do little to help to clear global oversupply quickly, even though it would provide a floor for the market.
