UAE To Quit Oil Exporting Groups OPEC, OPEC+ Amid Iran War
The United Arab Emirates on Tuesday announced that it will exit the Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+ with effect from May 1. The move comes at a time when the Iran war has triggered a historic energy shock and unsettled the global economy.
The decision was announced through the country's state-run WAM news agency, which said the move aligns with the UAE's long-term strategic and economic priorities.
