Oil Price Today Qatar
Live Brent crude and WTI oil price in QAR (Qatari Riyal) per barrel. QatarEnergy, LNG, and North Field context. Updated every minute.
Qatar Oil Price — QAR per Barrel & per Litre (Live)
| Crude / Unit | QAR (Live) | USD (reference) |
|---|---|---|
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Qatar Energy — QatarEnergy, LNG, and the North Field
Qatar's energy story is primarily about natural gas, not crude oil. While Qatar does produce approximately 600,000–700,000 barrels of crude oil per day, its global significance comes from the North Field — the world's largest natural gas reservoir — and its position as the world's largest LNG exporter.
- QatarEnergy: The state-owned energy company (formerly Qatar Petroleum) controls all hydrocarbons in Qatar. It operates the massive Ras Laffan industrial city — the hub of Qatar's LNG production — and has expanded internationally through upstream partnerships with Shell, TotalEnergies, ExxonMobil, and others.
- North Field expansion: Qatar is in the middle of a $30+ billion North Field expansion project that will increase LNG production from 77 million tonnes per year (MTPA) to 127 MTPA by ~2027, cementing its dominant position in global LNG markets.
- Oil vs gas revenues: LNG export revenues substantially outpace crude oil revenues for Qatar. The country exports LNG primarily to Japan, South Korea, India, China, and European markets (particularly post-2022 as Europe sought alternatives to Russian gas).
- QIA (Qatar Investment Authority): Oil and gas revenues fund QIA, Qatar's sovereign wealth fund with an estimated $500+ billion in assets. QIA holds major stakes in global companies including Volkswagen, Glencore, and significant real estate globally.
QAR and Oil — The USD Peg
The Qatari Riyal (QAR) is pegged to the US Dollar at approximately 3.64 — a peg maintained since 1980. Like the UAE's AED peg, this means oil and LNG prices in QAR move directly with USD prices: there is no exchange rate volatility between QAR and USD.
Qatar's energy revenues — both crude oil and LNG — are priced in USD internationally. The peg ensures price stability domestically and simplifies business in Qatar's large hydrocarbon sector. Qatar's substantial foreign reserves (held by QIA and the Qatar Central Bank) provide strong buffer for the peg even during low oil price periods.